EUR/CHF chart - Trading View
Technical Analysis: Bias Bullish
- EUR/CHF was trading 0.08% higher on the day at 1.0973 at around 09:40 GMT
- The pair is testing major resistance at channel top at 1.0980, decisive break above will boost upside
- Price action is above 55-EMA which is now strong support at 1.0953
- Momentum indicators are bullishly aligned, RSI is well above the 50 mark
- Retrace in price has bounced off 200-DMA support and is holding above 200H MA
- GMMA indicator shows major trend is neutral, while minor trend has turned bullish
Support levels - 1.0959 (5-DMA), 1.0953 (55-EMA), 1.0939 (110-EMA)
Resistance levels - 1.0980 (Channel top), 1.0990 (cloud base), 1.1010 (50% Fib)
Summary: EUR/CHF trades with a bullish technical bias. The pair is testing channel top resistance at 1.0980, decisive break above will finds next major resistance at daily cloud. Bullish momentum is likely to carry prices till 50% Fib at 1.1010. Cloud breakout will fuel further upside.
