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EUR/CHF above 1.2115; CPI in focus

FXStreet (Moscow) - EUR/CHF has settled at 1.2124, marginally below its opening level at 1.2126; the market is quiet ahead of Swiss inflation data

More good news for SNB?

EUR/CHF cracked the resistance at 1.2115 and spiked to two month high at 1.2137 on Monday on the back of EUR upside correction across the board. That’s a positive sign for EUR/CHF bulls, though the cross needs to stay above 1.2110/15 for the positive outlook to remain entrenched. From the fundamental point of view, we have an important Consumer Price Index and Retail sales reports published in the beginning of the European session. Weaker inflation numbers might support CHF sell-off and bring the cross to the next key resistance at 1.2140 followed by 1.2155.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2124, with support below at 1.2109, 1.2090 and 1.2075 with resistance above at 1.2143, 1.2158 and 1.2177. Hourly Moving Averages are bullish, with the 200SMA bullish at 1.2081 and the daily 20EMA bullish at 1.2086. Hourly RSI is bullish at 59

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