FxWirePro: EUR/CHF largely muted despite upbeat EMU CPI data, hovers around 55-EMA at 1.1402

EUR/CHF chart on Trading View used for analysis

• EUR/CHF trades in tight ranges on the day, with session high at 1.1414 and low at 1.1392.
   
• The pair remains largely muted at 1.14 handle despite upbeat EMU CPI data.
   
• Data released earlier today showed headline consumer prices are expected to rise at an annualized 2.2% in October.
   
• While Core prices are seen gaining 1.1% over the last twelve months, both prints coming in above expectations.
   
• Technical indocators are neutral to slightly bullish. Breakout of cloud likely to see further upside.
   
• On the flipside, we see weakness below 5-DMA at 1.1387. Dip till lower Bollinger Band at 1.1352 likely.

Support levels - 1.1387 (5-DMA), 1.1352 (lower BB)

Resistance levels - 1.1416 (20-DMA), 1.1457 (110-EMA)

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