FxWirePro: EUR/CHF holds 5-DMA support, eyes 200-DMA on bullish divergence

EUR/CHF chart on Trading View used for analysis

• EUR/CHF is retracing from 10-week highs of 1.1328 hit on Thursday's trade.
   
• The pair is currently trading at 1.1386, largely muted on the day, bias remains bullish.
   
• Momentum studies are bullish, Stochs and RSI are sharply higher. RSI is above 50 and biased higher. MACD also supports upside.
   
• We also evidence a bullish divergence on RSI and Stochs which adds to the upside bias.
   
• Volatility is on the rise. The pair is holding 5-DMA support at 1.1375. Break below to see further weakness.
   
• We see scope for test of 200-DMA at 1.1457. Violation above could see bullish continuation.

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-CHF-breaks-above-100-DMA-scope-for-test-of-382-Fib-at-11358-stay-long-1490690) has hit TP1/2.

Recommendation: Book partial profits at highs, target 200-DMA at 1.1457.

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