EUR/CHF chart - Trading View
Technical Analysis: Bias Bullish
- EUR/CHF extends bullish streak for the 5th straight session
- Price action has entered into daily cloud, break above will confirm upside resumption
- Momentum is bullish, Stochs and RSI are biased higher, RSI is well above the 50 mark
- GMMA indicator shows bullish shift on the intraday charts, minor trend on the daily charts is strongly bullish
- Volatility is high and rising as evidenced by widening Bollinger bands
Support levels - 1.0856 (110-EMA), 1.0818 (55-EMA), 1.0809 (5-DMA)
Resistance levels - 1.0880 (38.2% Fib), 1.0892 (200-DMA), 1.0902 (Cloud top)
Summary: EUR/CHF has reentered into the daily cloud. 110-EMA is offering stiff resistance. Breakout above will fuel further gains.
Technical indicators are bullishly aligned. The pair is poised for further upside. Scope for test of 200-DMA at 1.0892.
