FxWirePro: EUR/CHF Daily Outlook

EUR/CHF chart - Trading View 

Candlestick Pattern: Spinning Top formation
Chart Pattern: Downward Sloping Channel

Technical Analysis:
- Price action below cloud and major moving averages
- The pair is extending bounce off channel base
- RSI has rolled over from oversold levels, Stochs on verge of rollover
- 5-DMA is showing a slight turn higher
- Bearish divergence on RSI and Stochs on the hourly charts could see minor downticks

Support levels - 1.12 (200H SMA), 1.1192 (5-DMA), 1.1162 (Mar 29 low)
Resistance levels - 1.1253 (21-EMA), 1.1269 (38.2% Fib), 1.1297 (55-EMA)

Currency Forecast: Scope for test of 38.2% Fib. 200H SMA offers strong support. Weakness only on break below. 

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