Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/CHF was trading 0.31% lower on the day at 1.0119 at around 10:20 GMT
- The pair has broken major trendline support, poised for further downside
- MACD and ADX are strongly bearish, support further weakness in the pair
- Price action is below 200-DMA and Ichimoku cloud, Chikou span is biased lower
- Momentum is strongly bearish, Stochs and RSI are sharply lower
Support levels - 1.0068 (Aug 2011 low), 1.00, 0.9651 (Jan 2015 low)
Resistance levels - 1.0198 (5-DMA), 1.0245 (Trendline), 1.0304 (200H MA)
Summary: EUR/CHF was trading with a strong bearish bias. Break below major trendline support has opened downside. Dip below 1.00 mark likely.
