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FxWirePro: EUR/CHF pauses downside at 1.12 handle, bias bearish

EUR/CHF chart - Trading View 

EUR/CHF consolidates previous session's losses, extends marginal gains in the Asian session.

Price action has paused downside at 1.12 handle, bias remains bearish.

Momentum studies are bearish. Price action is set to extend weakness after break below daily cloud.

MACD and DMI support further downside. That said Oscillators are in oversold zone.

We can expect some pullback in the pair. 5-DMA is immediate resistance. Break above 200-DMA required for bearish invalidation.

Major bear targets are at 1.1182 (Jan 3rd lows), 1.1161 (Mar 29 low) and 1.1157 (200W SMA).

Support levels - 1.1182 (Jan 3rd lows), 1.1161 (Mar 29 low), 1.1157 (200W SMA)

Resistance levels - 1.1249 (5-DMA), 1.13, 1.1333 (200-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-CHF-Trade-Idea-1540373) has hit TP1.

Recommendation: Book partial profits at lows. Hold for further downside.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

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451.7 Stale

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USISM NY Biz Conditions

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50 %

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48.6 %

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-1541 %

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2016 bln ARS

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January 22 19:00 UTC 831067831067m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 819247819247m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 819247819247m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 819247819247m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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