The cross has strengthened this....>

EURO-SWISS TECHS: The cross has strengthened this week but has struggled at a

key resistance area:

- The 50-day EMA is a reliable trend indicator. In the case of EURCHF, the slope

of the average is negative suggesting the primary downtrend remains intact.

- Furthermore, the EMA also highlights an area of resistance. It currently

intersects at 1.0590. Although price has probed the average this week, the cross

has been unable so far to deliver a convincing break.

- For now, the risk is that it reverses direction and moves lower having defined

a key resistance and risk parameter at 1.0612, Tuesday's high.

- The focus is on 1.0546, Apr 28 low and 1.0508, Apr 23 low. A break of the

latter would expose 1.0500 and note that a breach of 1.0500 would also represent

a significant bearish break. See chart:

- https://emedia.marketnews.com/marketnewsintl/EC.jpg