FxWirePro: EUR/CHF extends weakness for the 4th straight session

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- EUR/CHF was trading 0.13% lower on the day at 1.0389 at around 09:45 GMT

- The pair is on a downside streak for the 4th straight session, eyes 110-EMA support at 1.0357

- Upside was rejected at 200-DMA which is major resistance at 1.0489

- Stochs and RSI show bearish rollover from overbought levels, adding to the downside bias

- Price action has slipped below 200H MA and GMMA shows major and minor trend are bearish on the intraday charts

Fundamental Overview:

Data published by Eurostat showed on Friday, that Eurozone’s Industrial Production fell less than expected in March.

Eurozone’s industrial output arrived at -1.8% MoM vs. a 2.0% drop expected and 0.5% last.

On an annualized basis, the industrial output dropped by 0.8% in March versus a -1.0% decline expected and February’s 1.7%.

Support levels:

S1: 1.0357 (110-EMA)

S2: 1.0335 (21-EMA)

Resistance levels:

R1: 1.0440 (5-DMA)

R2: 1.0489 (200-DMA)

Summary: EUR/CHF eyes 110-EMA support at 1.0357. Watch out for break below for further downside. Bullish continuation only above 200-DMA.