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Sep 10 - 07:24 AM
EUR/CHF - First Test Of Major Resistance Brings Rejection
First appeared on eFXplus on Sep 10 - 05:25 AM
  • Fast mkt to 1.0969: 30DMA Bolli, 55DMA and cloud base holding back the tide
  • Levels run from 1.0976 to 1.0991: cloud top is at 1.1070, 100DMA 1.1106
  • Current market environment argues for softer havens, so CHF and JPY easier
  • EUR/CHF turned a significant corner on Sept 4, resulting in a bull reversal
  • Cross put in three-day 1.4% climb and further gains likely near term
  • CHF bear trend likely to become more entrenched as global CB stimulus grips
  • ECB to underline global CB stimulus efforts Thurs

EUR/CHF Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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