Chart - Courtesy Trading View
Technical Analysis:
- EUR/CHF was trading largely muted at 0.9776 at around 11:50 GMT
- The pair is extending weakness after retrace below 200-DMA
- MACD and ADX support downside in the pair, Chikou span is biased lower
- GMMA indicator shows minor trend is bearish and major trend is turning bearish
- Momentum is strongly bearish, volatility is high and rising
Support levels:
S1: 0.9738 (Lower W BB)
S2: 0.9637 (Oct 2022 low)
Resistance levels:
R1: 0.9826 (5-DMA)
R2: 0.9853 (200-DMA)
Summary: EUR/CHF poised to extend weakness. The pair is set to test fresh multi-month lows below 0.9713.
