EUR/CHF chart - Trading View
EUR/CHF was extending sideways grind around 110-EMA support, outlook remains bearish.
Technical analysis supports bearish bias for the pair. Scope for dip till 200-DMA at 1.0677.
GMMA indicator shows minor trend is strongly bearish, while major trend is turning bearish.
Price action is consolidating break below daily cloud. Volatility is rising as evidenced by widening Bollinger bands.
Price action has broken major trendline support and 5-DMA is sharply lower and is capping upside in the pair.
Oscillators are biased lower, RSI is well below the 50 mark which adds support to the downside.
Dip till 200-DMA at 1.0677 likely. Retrace above 55-EMA negates any bearish bias.
Support levels - 1.0734 (21W EMA), 1.0677 (200-DMA)
Resistance levels - 1.0783 (55W EMA), 1.0864 (Upper weekly BB)
Summary: Technical studies favour weakness in the pair. Scope for dip till 200-DMA at 1.0677.
