EUR/CHF chart - Trading View
Spot Analysis:
EUR/CHF was trading 0.06% higher at 1.0790 at around 07:55 GMT
Previous Week's High/ Low: 1.0935/ 1.0807
Previous Session's High/ Low: 1.0847/ 1.0783
Technical Analysis:
- EUR/CHF slumped on Thursday's trade to close 0.44% lower at 1.0783
- The pair's recovery from multi-month lows at 1.0696 failed at 200-DMA resistance
- Price action has retraced break above daily cloud and has slipped below
- GMMA indicator shows major trend is neutral, while minor trend is bearish
- Volatility is high and rising as evidenced by widening Bollinger bands
Major Support and Resistance Levels:
Support - 1.0759 (cloud base), Resistance - 1.0803 (23.6% Fib)
Summary: EUR/CHF is poised for further downside. Recovery attempts lack traction. Dip till 1.0705 likely.
