EUR/CHF chart - Trading View
Technical Analysis: Bias Bearish
- EUR/CHF was trading 0.25% lower on the day at 1.0769 at around 09:30 GMT
- The pair is extending slump for the 2nd straight session after failing to clear weekly cloud
- RSI has turned south and is now slipped below the 50 mark, Stochs are on verge of rollover from oversold levels
- GMMA indicator shows major trend is strongly bearish, while minor trend is turning bearish again
- Price action has retraced below 200H MA, scope for further downside
Support levels - 1.0716 (88.6% Fib), 1.07, 1.0660 (Nov 4th 2020 low)
Resistance levels - 1.0783 (200H MA), 1.0806 (5-DMA), 1.0816 (23.6% Fib)
Summary: EUR/CHF has resumed weakness after failure to close above weekly cloud. Technical bias is bearish. 'Death Cross' has kept lid on run-away gains. Scope for downside resumption. Retest of yearly lows at 1.0712 on cards.
