FxWirePro: EUR/CHF extends gains above 23.6% Fib, break above 21-EMA could see further upside

EUR/CHF chart - Trading View 

• EUR/CHF trades 0.23% higher on the day at 1.1241 at 1120 GMT.
   
• The pair is extending bounce off channel base, extends gains for the 2nd straight week.
   
• Price action below cloud and major moving averages, but very short-term averages have turned.
   
• RSI and Stochs have rolled over from oversold levels, MACD is on verge of bullish crossover on signal line.
   
• Immediate resistance lies at 21-EMA at 1.1249. Break above could see further upside. Scope for test of 38.2% Fib at 1.1269.
   
• Strong support seen at 1.12 levels. Break below channel base to negate bullish bias. 
   
• Focus now on the European Central Bank’s (ECB) monetary policy meeting, scheduled to be held on April 10 by 11:45GMT, for further direction.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.