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FxWirePro: EUR/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/CHF was trading 0.39% lower on the day at 1.0153 at around 10:30 GMT

- The pair is extending break below daily cloud

- Momentum is strongly bearish, stochs and RSI are biased lower

- The pair has resumed downside are being rejected at 200-DMA

- GMMA indicator shows major and minor trend are bearish

- Volatility is high and rising, MACD confirms bearish crossover on signal line

Major Support Levels:

S1: 1.0087 (Apr month low)

S2: 1.0037 (Lower BB)

Major Resistance Levels: 

R1: 1.0243 (Cloud base)

R2: 1.0305 (5-DMA)

Summary: EUR/CHF is poised to extend hawkish SNB-led losses. Technical indicators also support downside in the pair. 
 

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