EUR/CHF chart on Trading View used for analysis
- EUR/CHF struggles to break above 100-DMA. The pair has been capped below from past sessions.
- The pair is trading 0.05% lower on the day at 1.1325 at 1245 GMT, bias is bullish.
- Momentum studies are bullish, Stochs and RSI are sharply higher. RSI is above 50 and biased higher. MACD also supports upside.
- Break above 100-DMA will see resumption of upside. Scope then for test of 38.2% Fib at 1.1385.
- Rejection at 100-DMA and break below 5-DMA could see grind lower.
Support levels - 1.1315 (5-DMA), 1.1309 (55-EMA), 1.1289 (21-EMA), 1.1275 (20-DMA)
Resistance levels - 1.1332 (100-DMA), 1.1358 (110-EMA), 1.14, 1.1481 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
