FxWirePro: EUR/CHF consolidates previous session's losses, on track to test 200-DMA at 1.0870

EUR/CHF chart - Trading View 

Technical Analysis: Bias Bearish

- EUR/CHF was trading will marginal gains as price action consolidates previous session's downside 

- Analysis of GMMA indicator shows constriction in long-term moving averages while near-term trend is strongly bearish

- Recovery attempts remain capped below 55-EMA and volatility is rising as evidenced by widening Bollinger bands

- Price action has slipped below 21W EMA and momentum on the weekly charts is bearish

- The pair grinds lower in sloping channel pattern and MACD and ADX support weakness

Support levels - 1.0885 (Channel base), 1.0870 (200-DMA), 1.0847 (61.8% Fib retracement)

Resistance levels - 1.0933 (5-DMA), 1.0953 (21-EMA), 1.0967 (55-EMA)

Summary: EUR/CHF trades with a bearish bias. Bearish momentum and high volatility to drive further downside in the pair. Price action is on track to test channel base support at 1.0885. Break below will see dip till 200-DMA at 1.0870.