FxWirePro: AUD/USD on track to test trendline support at 0.6855, upbeat Aussie PMI data fails to impress
FxWirePro: EUR/CHF extends weakness for the 4th straight session
Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/CHF was trading 0.13% lower on the day at 1.0389 at around 09:45 GMT
- The pair is on a downside streak for the 4th straight session, eyes 110-EMA support at 1.0357
- Upside was rejected at 200-DMA which is major resistance at 1.0489
- Stochs and RSI show bearish rollover from overbought levels, adding to the downside bias
- Price action has slipped below 200H MA and GMMA shows major and minor trend are bearish on the intraday charts
Data published by Eurostat showed on Friday, that Eurozone’s Industrial Production fell less than expected in March.
Eurozone’s industrial output arrived at -1.8% MoM vs. a 2.0% drop expected and 0.5% last.
On an annualized basis, the industrial output dropped by 0.8% in March versus a -1.0% decline expected and February’s 1.7%.
S1: 1.0357 (110-EMA)
S2: 1.0335 (21-EMA)
R1: 1.0440 (5-DMA)
R2: 1.0489 (200-DMA)
Summary: EUR/CHF eyes 110-EMA support at 1.0357. Watch out for break below for further downside. Bullish continuation only above 200-DMA.