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FxWirePro: EUR/CHF Technical Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- EUR/CHF was trading 0.64% lower on the day at 1.0311 at around 12:10 GMT

- The pair is on a downward spiral for the 3rd consecutive week

- Price action has failed to extend break above daily cloud and has retraced below

- The pair trades below major moving averages which are trending lower

- Momentum is strongly bearish, volatility is high, MACD and ADX support weakness

Support levels - 1.0265 (Trendline support), 1.0255 (Lower W BB), 1.02

Resistance levels - 1.0379 (5-DMA), 1.0432 (21-EMA), 1.0442 (200H MA)

Summary: EUR/CHF trades with a strong bearish bias. The pair is poised for further downside. 
 

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