FxWirePro: EUR/CHF resumes weakness after rejection at 21-EMA, eyes 1.1057

EUR/CHF chart - Trading View 

EUR/CHF staging a modest rebound, edges higher from session lows at 1.1105.

The pair is currently trading at 1.1119 at 12:45 GMT, down 0.11% at the time of trading.

GMMA indicator shows major trend is bearish and short-term moving averages are turning as an indicator of shift in near-term trend.

Pullback in the pair seems to have fizzled out at 21-EMA which is sharply lower and offering stiff resistance at 1.1141.

RSI has slipped below 50 and Stochastics RSI is on verge of rollover from overbought levels.

Scope for weakness till 1.1057 (Lower Bollinger band and June 20 low). Bearish invalidation only above 21-EMA. 

Support levels - 1.11, 1.1057 (Lower BB and June 20 low), 1.10

Resistance levels - 1.1131 (5-DMA), 1.1141 (21-EMA), 1.1155 (23.6% Fib)

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