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Jul 28 - 07:55 AM

EUR/CHF - Back Below 1.08 After Clearing Out Stops Above

By Rob Howard  —  Jul 28 - 05:55 AM
  • EUR/CHF hits 1.0779 EBS intra-day low after extending south from 1.0838

  • 1.0838 was Monday's 7-week EBS high, after stops above 1.0800 were tripped

  • See: nL2N2EY0EO. Drop to 1.0779 influenced by COVID-19 concerns

  • Daily new cases in Germany almost doubled to 633 on Tuesday nS8N2DF01X

  • Recent EUR gains aided by belief EZ dealing relatively well with COVID-19

  • 1.0779 is close to 23.6% Fibo of 1.0607 (July 10 EBS low) to 1.0838

EURCHF Click here

Source:
Refinitiv IFR Research/Market Commentary

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