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FxWirePro: EUR/CHF slumps on dismal German/Euro-zone manufacturing PMIs, bias lower

EUR/CHF chart - Trading View 

  • EUR/CHF dives as the single currency dented across the borad on dismal German/Euro-zone manufacturing PMIs.
     
  • German manufacturing PMI showed that factory activity slipped deeper into contraction territory in March.
     
  • Composite Euro-zone manufacturing PMI also fell to a 71-month low level of 47.6.
     
  • The latest disappointment from German/Euro-zone manufacturing PMI prints helped reignite global growth worries.
     
  • Technicals are heavily bearish on the intrday charts. The pair is trading below 61.8% Fib retracement.
     
  • Next major support lies at 88.6% Fib at 1.1212. Break below eyes 'double bottom' at 1.1183.

Support levels - 1.1244 (76.4% Fib), 1.1212 (88.6% Fib), 1.1183 (double bottom)

Resistance levels - 1.1282 (61.8% Fib), 1.13, 1.1313 (5-DMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-CHF-rejected-at-session-highs-break-below-11344-to-see-further-downside-1511726) has hit all targets.

Recommendation: Book partial profits at lows, stay short for 1.1215/ 1.1190

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

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Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 775962775962m

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2016 bln ARS

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 787782787782m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 775962775962m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 787782787782m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 775962775962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 775962775962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 775962775962m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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