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Thomson Reuters
May 14 - 08:36 AM
EUR/CHF - SNB Likely To Have Smoothed The Rebound Path
First appeared on eFXplus on May 14 - 05:00 AM
  • Monday's 0.6% slide in the cross no doubt brought the SNB into play
  • Marked deterioration in stock markets and risk generally a CB concern
  • EUR/CHF closed inside its daily ichimoku cloud Mon, now clear above
  • Unlikely aggressive but SNB probably smoothed the way for a rebound
  • Stocks and risk making a tentative recovery but not a game changer
  • Given the current risk jitters, trade deal stalling, EUR/CHF still a sell
  • Would look for bearish resumption and run to the mid-1.12s near-term

EUR/CHF Daily Chart: Click here

Source:
Thomson Reuters IFR Markets

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