Chart - Courtesy Trading View
Technical Analysis:
- EUR/CHF was trading 0.32% lower on the day at 0.9890 at around 11:30 GMT
- The pair has trimmed losses and edged higher from session lows at 0.9848
- Recovery attempts in the pair capped at daily cloud, further gains only on break above
- Price action has slipped below 5-DMA, 55-EMA and 200H MA on the intraday charts
- GMMA indicator shows major trend is neutral, while minor trend is bearish
Support levels:
S1: 0.9835 (200-DMA)
S2: 0.9780 (Lower BB)
Resistance levels:
R1: 0.9901 (55-EMA)
R2: 0.9928 (5-DMA)
Summary: EUR/CHF fails to show any clear directional bias. Price action likely to hover above 200-DMA for a few sessions. 5-DMA is still biased higher. Decisive break below 200-DMA will change near-term dynamics.
