EUR/CHF chart - Trading View
- EUR/CHF is extending gains above 50-DMA, breaks into daily cloud.
- Price action has broken above major EMAs and is on track to test 200-DMA at 1.1363.
- The pair is currently trading at 1.1343, up 0.16% on the day, extending gains for the 3rd straight week.
- Technical studies are biased higher. Stochs and RSI are sharply higher.
- The pair is on track to test 200-DMA and daily cloud top at 1.1363. Breakout could see further gains.
- Focus now on German ZEW economic sentiment gauge due Tuesday for further impetus.
- The index is forecast to increase from -3.6 to 0 in April, which would make it the highest reading in a year.
Support levels - 1.1323 (110-EMA), 1.1304 (5-DMA), 1.1295 (55-EMA)
Resistance levels - 1.1363 (converged 200-DMA and cloud top), 1.1377 (76.4% Fib), 1.1415 (channel top)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
