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FxWirePro: EUR/CHF hits 2-month high, bullish momentum to drive further gains

EUR/CHF chart - Trading View 

Technical Analysis: Bias strongly bullish

Indicators in support of upside:

- RSI above 70 mark, bias higher

- Stohastics are sharply higher

- Bullish divergence on Stochastics on the daily charts

- Widening Bollinger bands which suggest rising volatility

- Price action above cloud, Chikou Span is biased higher

- GMMA shows minor trend is strongly bullish, while major trend is turning 

Support levels - 1.0647 (110-EMA), 1.0609 (Cloud top), 1.0587 (55-EMA)

Resistance levels - 1.0715 (38.2% Fib), 1.0769 (200-DMA), 1.0827 (55W EMA)

Summary: EUR/CHF is on track for a second straight week of gains, bias strongly bullish. Next major bull target lies at 200-DMA at 1.0769. 'Death Cross' on the weekly charts may limit gains beyond. 
 

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