EUR/CHF chart - Trading View
EUR/CHF was trading 0.71% higher on the day at 1.0680 at around 10:10 GMT, slightly lower from session highs at 1.0691.
The pair spiked past 110-EMA which was capping upside from the past few sessions, technical bias has turned bullish.
The spike was triggered by reports that the EU Commission will propose €750 billion for the coronavirus recovery fund.
Volatility is rising as evidenced by widening Bollinger bands, Stochs and RSI are sharply higher.
Bullish divergence on the RSI on the daily charts adds to the upside bias. Price action has edged above daily cloud.
Close above 110-EMA will see gains till 61.8% Fib at 1.0846. Major hurdles en-route align at 38.2% Fib at 1.0715 and 200-DMA at 1.0771.
Daily cloud is major support for the pair and retrace below will neagte any bullish bias.
