FxWirePro: EUR/CHF range bound ahead of German GFK data, technical bias bearish

EUR/CHF chart - Trading View 

• EUR/CHF is trading in an extremely narrow range, bias remains bearish.
   
• Recovery in the pair was rejected at highs and 'Gravestone Doji' formation seen on Monday's candle.
   
• Price action below cloud and major moving averages. Weekly charts also support downside.
   
• Oscillators are at oversold levels, but we do see any major signs of reversal. 
   
• Focus now on German GFK consumer confidence index for further impetus. 
   
• The market-research group GfK's monthly survey is expected to show that German consumer sentiment will remain stable in April.
   
• An above-forecast German GFK consumer confidence could support the euro higher.

Support levels - 1.1212 (88.6% Fib), 1.1183 (trendline), 1.1123 (200W SMA)

Resistance levels - 1.1244 (76.4% Fib), 1.1258 (5-DMA), 1.13

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