Chart - Courtesy Trading View
Technical Analysis:
- EUR/CHF breaks below 200-DMA raising scope for more downside
- Momentum ic bearish, Stochs and RSI are sharply lower, RSI well below 50
- Price action has slipped below 200H MA, GMMA is bearish on the intraday charts
- The pair trades below daily cloud and Chikou span is biased lower
- MACD confirms bearish crossover on signal line and ADX supports downside
Support levels:
S1: 0.9812 (Lower BB)
S2: 0.9708 (Nov 2022 low)
Resistance levels:
R1: 0.9859 (200-DMA)
R2: 0.9897 (110-EMA)
Summary: EUR/CHF trades with a bearish bias. Close below 200-DMA will open downside for the pair. Scope for test of fresh multi-month lows below 0.97 handle.
