Chart - Courtesy Trading View
Technical Analysis:
- EUR/CHF was trading 0.14% lower on the day at 0.9910 at around 13:15 GMT
- The pair has slipped below 55-EMA support and 5-DMA caps upside
- Momentum is bearish, Stochs and RSI are sharply lower, RSI is below 50 mark
- Price action has slipped below daily cloud and 200H MA, GMMA indicator is bearish on the intraday charts
- MACD is on verge of bearish crossover on signal line, Chikou span is biased lower
Support levels:
S1: 0.9899 (110-EMA)
S2: 0.9862 (200-DMA)
Resistance levels:
R1: 0.9926 (converged 5-DMA and 21-EMA)
R2: 0.9954 (200H MA)
Summary: EUR/CHF poised for further downside. Close below cloud will see more weakness. Scope for test of 200-DMA at 0.9862.
