EUR/CHF chart - Trading View
Technical Analysis: Bias Bearish
- Recovery attempts capped at 55-EMA resistance
- 'Inverted Hammer' formation on Tuesday's candle adds to the bearish bias
- Stochs and RSI are biased lower, RSI well below the 50 mark, momentum strongly bearish
- GMMA indicator shows minor trend is strongly bearish, while major trend is turning bearish
- Price action is below cloud and MACD supports weakness, volatility is high
Support levels - 1.0674 (200-DMA), 1.0655 (Trendline)
Resistance levels - 1.0715 (5-DMA), 1.0746 (55-EMA)
Summary: The single currency under pressure as Germany, France, and possibly the UK mull lockdowns as coronavirus cases spiral across Europe. Technical analysis also supports downside in the pair. Scope for test of 200-DMA at 1.0674. Break below will drag the pair lower.
