FxWirePro: EUR/CHF pivotal at 200-DMA support, weakness only on break below

EUR/CHF chart - Trading View 

EUR/CHF was trading 0.20% higher on the day at 1.0893 at around 08:00 GMT, after closing 0.18% lower in the previous session.

The pair has snapped 4 straight session's of downside and has held strong support at 200-DMA.

Technical indicators are still biased lower. Break below 200-DMA will open downside in the pair.

That said, Stochs are at oversold levels with a risk of some pullback as oscillators rollback into neutral territory. 

GMMA shows minor trend is turning neutral, while major trend is bearish on the daily charts

Price action is below the daily Ichimoku cloud and Bollinger bands are widening on the daily charts suggesting rising volatility.

MACD and ADX supports downside. Recovery capped at 5-DMA. Break above will see more upside.

Major Support Levels: 1.0871 (200-DMA), 1.0847 (61.8% Fib), 1.08 (Psychological level)

Major Resistance Levels: 1.0895 (5-DMA), 1.0928 (200H MA), 1.0946 (21-EMA), 1.0958 (55-EMA)

Summary: EUR/CHF trades with a bearish technical bias. Price action has held 200-DMA support at 1.0871. Breach below will open downside. Next major support lies at 1.0847.