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FxWirePro: EUR/CHF Daily Outlook

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. 
 

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