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Thomson Reuters
Jul 12 - 12:12 PM
EUR/CHF - Receding Risk Aversion Sparks EUR/CHF Rally And Tech Breaks
First appeared on eFXplus on Jul 12 - 10:00 AM
  • Solid day for stocks and commodities has sparked EUR/CHF demand
  • EUR/CHF vaults 200 and 55-DMAs 1.1673/1.1675 and daily Ichi cloud top 1.1687
  • Stops tied to 1.1700 options may attract with 100-DMA 1.1712 potentially key
  • Last similar break saw pair test above 1.2000 in May
  • Then ECB worried about euro strength, weaker euro now encouraging ECB taper
  • Data suggests SNB has been supporting EUR/CHF in wake of dovish policy meet

EUR/CHF chart Click here

Source:
Thomson Reuters IFR Markets

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