EUR/CHF chart - Trading View
- EUR/CHF hits new 3-week highs at 1.1323, before paring some gains to trade at 1.1317 at 0535 GMT.
- The pair is on track to close in the green for the 2nd straight week.
- Momentum is with the bulls, Stochs and RSI are sharply higher. We see scope for further gains.
- Price action has broken above 50-DMA and is currently testing resistance at 110-EMA at 1.1323.
- Break above 110-EMA will see upside till 200-DMA at 1.1365. Further upside only on break above.
- Oscillators are at overbought levels which is some cause on caution. Rejection at 110-EMA and break below 5-DMA will see weakness.
Support levels - 1.1313 (50-DMA), 1.1293 (55-EMA), 1.1284 (5-DMA)
Resistance levels - 1.1323 (110-EMA), 1.1336 (61.8% Fib), 1.1365 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
