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EUR/CHF bounces off 1.0950

FXStreet (Edinburgh) - The buying interest around the safe haven CHF is now taking a breather, lifting EUR/CHF to the 1.0960/70 band.

EUR/CHF capped by 1.1000

The upside in the cross has found quite tough resistance around the psychological 1.1000 handle following the no-hike by the Fed at its meeting on Thursday, prompting sellers to step in and drive the cross to lows in the mid-1.0900s.

Nothing in the data front from Switzerland, while EMU’s Current Account surplus is expected to have shrunk to €21.3 billion during July.

EUR/CHF relevant levels

At the moment the cross is losing 0.14% at 1.0961 with the next support at 1.0922 (low Sep.10) ahead of 1.0878 (low Sep.9) and finally 1.0832 (low Sep.7). On the other hand, a break above 1.1011 (high Sep.15) would aim for 1.1049 (high Sep.11) and then 1.1100 (psychological level).

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