EUR/CHF Price Analysis: Closing on Wednesday's low

• EUR/CHF's daily chart shows signs of indecision in the market. 
• A close below Wednesday's low would imply a bearish breakdown.

EUR/CHF trades on a weak footing on Thursday, having faced rejections above 1.08 in the previous two trading days. 

The pair is currently trading within a touching distance of Wednesday's low of 1.0782. Acceptance below that level would mean the market indecision, as represented by long wicks attached to Wednesday's candle, has ended with a bearish breakdown. As such, a deeper decline toward the 50-day simple moving average (SMA) at 1.0751 will likely follow. 

On the higher side, a close above Wednesday's high of $1.0825 would shift the focus back to the descending channel breakout confirmed on Nov. 9 and open the doors for a stronger rally. 

Daily chart

Trend: Bearish

Technical levels