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EUR/CHF stays in the range with mild bearish bias

FXStreet (Moscow) - EUR/CHF retraced from Asian low at 1.2070, but the cross is still down on the day at 1.2073.

EUR/CHF is boring again

Looks like EUR/CHF found a good floor at 1.2060 as the cross settled just above this area. The single currency is under pressure across the board, but Swissy is in no hurry to grow against EUR. Investors are afraid of possible SNB’s interventions as the central bank confirmed its readiness to protect 1.2000 floor. Fundamentally, we are waiting for preliminary September PMI numbers in Eurozone. No great improvement is expected, thus the market reaction might be muted. Anyway, keep an eye at these numbers as they might help to understand how the European business react to external shocks such as sanctions war. Technically, the key levels are the same: 1.2090/1.2100 on the upside and 1.2030 on the downside.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2073, with support below at 1.2065, 1.2053 and 1.2045 with resistance above at 1.2085, 1.2093 and 1.2105. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2090 and the daily 20EMA bearish at 1.2086. Hourly RSI is bearish at 48.

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