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EUR/CHF chart - Trading View
Technical Analysis: Bias Bearish
- EUR/CHF was trading 0.04% lower on the day at 1.0798 at around 11:20 GMT
- The pair is on a downtrend from multi-month high at 1.1151 (March 4th) and bias remains bearish
- Technical indicators are biased lower. GMMA indicator shows major and minor trend are strongly bearish
- Momentum is strongly bearish, volatility is high. 50-DMA is on track for a bearish crossover on 200-DMA
- Price action has dipped into weekly cloud. Chikou span is biased lower. The pair is poised for further downside.
- Scope for test of 76.4% Fib retracement at 1.0776. Break below eyes trendline support at 1.0735
Support levels - 1.0776 (76.4% Fib), 1.0735 (Trendline support), 1.0716 (88.6% Fib)
Resistance levels - 1.0809 (5-DMA), 1.0849 (21-EMA), 1.0852 (20-DMA)
Summary: EUR/CHF trades with a strong bearish momentum. Scope for test of trendline support at 1.0735.
