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FxWirePro: EUR/CHF snaps 3-day downside, retraces above 55-EMA

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/CHF was trading 0.50% higher on the day at 0.9931 at around 11:00 GMT

- Price action has edged above 200H MA, GMMA indicator has turned bullish on the hourly charts

- The pair has snapped a 3-day bearish streak and has retraced dip below 55-EMA

- MACD and ADX are turning bullish, Chikou span is also biased higher

- Momentum is bullish, Stochs and RSI are biased higher

Support levels:

S1: 0.9901 (21-EMA)

S2: 0.9832 (200-DMA)

Resistance levels:

R1: 0.9956 (Cloud top)

R2: 0.9998 (55-week EMA)

Summary: EUR/CHF trades with a neutral bias. Decisive break above daily cloud could change near-term dynamics. 

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