Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/CHF was trading 0.05% lower on the day at 1.0226 at around 09:35 GMT
- The pair is extending weakness for the third consecutive session
- Price action struggles to hold break above daily cloud, slips below 50-DMA
- Momentum has turned bearish, RSI has slipped below 50 mark
- MACD is on verge of bearish crossover on signal line
- Price action has slipped below 200H MA and GMMA shows bearish shift on the intraday charts
Support levels:
S1: 1.0202 (20-DMA)
S2: 1.0087 (April low)
Resistance levels:
R1: 1.0259 (200H MA)
R2: 1.0270 (55-EMA)
Summary: EUR/CHF has been rejected at 110-EMA and has retraced below daily cloud. Scope for further downside. Dip till 20-DMA likely, break below will confirm further downside.
