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FxWirePro: EUR/CHF Technical Outlook

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. 
 

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