FxWirePro: EUR/CHF extends gains for the 2nd straight session, eyes 21-EMA

EUR/CHF chart - Trading View 

Technical Analysis: Bias Bullish

- EUR/CHF was trading 0.21% higher on the day at 1.0784 at around 13:00 GMT

- The pair is extending bounce off 88.6% Fib support and is spiking for the 2nd straight session

- MACD is on verge of bullish crossover on signal line, 5-DMA has turned

- Stochs are on verge of rollover from oversold levels, RSI is biased higher

- Price action has edged above 200H MA and GMMA indicator has turned bullish on the hourly charts

Support levels - 1.0752 (200H MA), 1.0744 (5-DMA), 1.0716 (88.6% Fib)

Resistance levels - 1.0794 (21-EMA), 1.0847 (61.8% Fib), 1.0858 (55-EMA)

Data Released: The Switzerland seasonally adjusted unemployment rate fell to 3.0% in July, matching consensus and compared to a reading of 3.1% in June.

The non-seasonally adjusted unemployment rate for July stood at  2.8%, compared to forecasts and prior at 2.8%.

Summary: EUR/CHF is on track to test 21-EMA resistance. Further upside remains elusive as 'Death Cross' on the daily charts is likely to cap upside. Decisive break above 21-EMA could change near-term dynamics.