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FxWirePro: EUR/CHF consolidates previous session's gains, euro firm despite downbeat German and Eurozone ZEW numbers
EUR/CHF chart - Trading View
EUR/CHF was trading 0.06% higher at 1.0688 at around 11:06 GMT, edging higher from session lows at 1.0650.
The shared currency remains bid despite downbeat German and Eurozone ZEW numbers.
Data released earlier today showed German ZEW Economic Sentiment Index came in at 59.3 versus 60.0 expectations and 63.4 last.
While the sub-index Current Conditions figure arrived at -80.9 in July versus -65.0 expected and -83.1 booked previously.
Meanwhile, the Eurozone ZEW economic sentiment for July stood at 59.6 vs. 78.1 expected and 58.6 last.
Improvement of key fundamentals in the eurozone amidst the massive monetary stimulus by central banks likely supporting the euro.
Momentum studies are bullish. The pair has held strong support at 21-EMA, weakness only on break below.
Daily cloud and 200-DMA is strong resistance. Decisive break above 200-DMA to fuel further gains.
Support levels - 1.0655 (21-EMA), 1.0591 (78.6% Fib)
Resistance levels - 1.0709 (Cloud base), 1.0736 (200-DMA)