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EUR/CHF down to test 1.09, CPI on sight

FXStreet (Edinburgh) - The Swiss franc is now gathering some traction vs. its European peer on Tuesday, taking EUR/CHF to test the key support at 1.0900 the figure.

EUR/CHF focus on Swiss CPI

The cross remains within a tight range around the 1.0910 area after testing the vicinity of 1.0950 on Monday, while global markets keep adjusting to the recent NFP figures and the (increasing?) likeliness of a ‘no-hike’ by the Fed this year.

Next of relevance in the cross will be the key inflation figures in the Alpine economy, followed by speeches by V.Constancio and M.Draghi. Prior surveys expect Swiss consumer prices to have risen 0.1% from August to September and to have contracted 1.4% on an annual basis.

EUR/CHF levels to consider

At the moment the cross is advancing 0.01% at 1.0914 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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