Chart - Courtesy Trading View
EUR/CHF slumped below 21-EMA aeurcs the Swiss Franc soared across the board on SNB Jordan’s comments.
The pair refreshed monthly lows below 0.98 handle and was trading 0.60% lower at 0.9772 at around 16:10 GMT.
Chairman of the Governing Board of the Swiss National Bank, Thomas Jordan said earlier on Friday the central bank is reading to take all necessary measures to bring inflation back into the range of price stability.
He mentioned the SNB has to take action and mentioned monetary policy is not sufficiently restrictive enough.
The pair has retraced below 110-EMA.Momentum is bearish, Stochs and RSI are sharply lower.
MACD confirms bearish crossover on signal line and ADX supports downside. Chikou span is biased lower.
Support levels - 0.9756 (20-week MA), 0.9634 (Daily cloud)
Resistance levels - 0.9833 (21-EMA), 0.9853 (5-DMA)
Summary: EUR/CHF trades with a bearish bias. Daily cloud at 0.9634 in sight.
