FxWirePro: EUR/CHF retraces into daily cloud, eyes 50-DMA at 1.1580

• EUR/CHF struggles to extend weakness below 61.8% Fib, edges higher for the 3rd straight session.
   
• The pair has managed to break stiff resistance at nearly converged 5-DMA and daily cloud.
   
• Technical indicators on daily charts are turning slightly bullish. Stochs are on verge of rollover from oversold levels.
   
• The pair targets 50-DMA at 1.1580 on continued upside momentum. Further gains only on decisive break above.
   
• On the flipside, failure to hold break above 5-DMA could see retrace till 61.8% Fib. Next major bear target below 61.8% Fib lies at 78.6% Fib at 1.1442.

Support levels - 1.1540 (50% Fib), 1.1528 (5-DMA), 1.15 (61.8% Fib)

Resistance levels - 1.1579 (21-EMA), 1.16, 1.1656 (June 11 high)

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 60.4789 (Neutral), while Hourly CHF Spot Index was at -47.332 (Neutral) at 0645 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.