FxWirePro: EUR/CHF finds rejection at 200H MA resistance, upside only on breakout above

EUR/CHF chart - Trading View 

EUR/CHF faces rejection at 200H MA, slips lower from session highs at 1.0567.

The pair is struggling to extend gains, was trading largely muted at 1.0542 at around 10:00 GMT.

Upside lacks traction, technical indicators support further weakness. Major and minor trend are strongly bearish.

Stochs and RSI are biased lower. Volatility is rising and price grinds lower along downward sloping 21-EMA.

Price hovers around 61.8% Fib at 1.0550. 'Death Cross' on the weekly charts to plummet prices further. Dip till 1.0280 (May 2015 low) likely.

Recent disappointing prints in both Germany and the broader Euroland keep the Euro suppressed.

Consumer Confidence gauge in the euro area due later today (15:00 GMT) will be in focus for immediate moves.

Advanced PMIs in the region for the month of March on Tuesday and the German IFO on Wednesday will also be keenly watched.