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.
