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EUR/CHF shoots to highs near 1.0920

FXStreet (Edinburgh) - The Swiss franc is trading on the defensive at the beginning of the week, now helping EUR/CHF to test highs around 1.0915/20.

EUR/CHF attention to EMU data

The cross is now trying to break above the consolidative pattern around 1.0900 the figure ahead of the opening bell in Europe and the release of the final prints for the Services PMIs in the euro bloc.

The better tone in the single currency is propping up the current upside momentum in the cross, following the tepid results from September’s Payrolls in the US economy (142K).

Next on tap will be the Services PMIs, EMU’s Retail Sales, while inflation figures are the next relevant event in the Swiss economy due tomorrow.

EUR/CHF levels to consider

At the moment the cross is advancing 0.13% at 1.0910 with the next hurdle at 1.0942 (high Oct.2) followed by 1.0982 (high Sep.25) and finally 1.1011 (high Sep.14). On the other hand, a break below 1.0876 (low Sep.30) would expose 1.0844 (low Sep.21) and then 1.0823 (low Sep.22).

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