FxWirePro: EUR/CHF finds strong trendline support at 1.1318, break below to see further weakness

EUR/CHF chart - Trading View 

• EUR/CHF is trading 0.05% lower on the day at 1.1322 at 0655 GMT, bias bearish.
   
• Price action has slipped below 100-DMA and technical indictaors are biased lower.
   
• The pair is holding support at strong trendline support at 1.1318, break below will see further downside.
   
• RSI is below 50, Stochs are sharply lower. -ve DMI dominance adds to the bearish bias.
   
• Break below 1.1318 to see further weakness. Dip till 61.8% Fib at 1.1282 then likely.
   
• On the flipside, immediate resistance lies at 1.1333, break above could see upside till 55-EMA at 1.1343.

Support levels - 1.1318 (trendline), 1.1313 (cloud base, 50% Fib), 1.1282 (61.8% Fib)

Resistance levels - 1.1333 (100-DMA), 1.1343 (55-EMA), 1.1356 (110-EMA), 1.1375 (trendline) 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.