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FxWirePro: EUR/CHF pivotal at cloud base (1.0950), break below to see dip till 1.09

EUR/CHF chart - Trading View 

Technical Analysis: Bias Bearish

- Rejected at session highs, capped at 5-DMA

- GMMA indicator shows near-term MAs have crossed below long-term MAs

- Oscillators are biased lower and strongly bearish

- Volatility is high and rising as evidenced by widening Bollinger bands

- MACD and ADX support weakness, price action is hovering around major support at 1.0950

Support levels - 1.0950 (cloud base and trendline), 1.0936 (110-EMA), 1.0905 (50% Fib)

Resistance levels - 1.0963 (38.2% Fib), 1.0968 (5-DMA), 1.0991 (55-EMA)

Summary: EUR/CHF trades with a bearish bias. Price action is pivotal at 1.0950 (converged cloud base and trendline). Break below will see test of 50% Fib at 1.0905.

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