EUR/CHF chart - Trading View
Technical Analysis: Bias Bullish
- EUR/CHF was trading 0.04% higher on the day at 1.0885 at around 11:00 GMT
- The pair has paused upside at stiff resistance at 200-DMA
- Momentum is with the bulls, Stochs are sharply higher and RSI is above 50
- Price action is consolidating break above the daily cloud and major trendline resistance
- Volatility is high and rising as evidenced by widening Bollinger bands
Support levels - 1.0866 (5-DMA), 1.0857 (110-EMA), 1.0829 (55-EMA)
Resistance levels - 1.0893 (200-DMA), 1.09, 1.0932 (50% Fib)
Summary: EUR/CHF has been struggling at 200-DMA resistance. The pair is extending sideways grind for the past few sessions. Technical indicators support gains in the pair. Watch out for decisive break above for upside continuation.
Rejection at 200-DMA and retrace into daily cloud will negate any further upside.
