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FxWirePro: EUR/CHF Daily Outlook

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. 
 

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