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.
