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FxWirePro: EUR/CHF range bound ahead of German GFK data, technical bias bearish

EUR/CHF chart - Trading View 

  • EUR/CHF is trading in an extremely narrow range, bias remains bearish.
     
  • Recovery in the pair was rejected at highs and 'Gravestone Doji' formation seen on Monday's candle.
     
  • Price action below cloud and major moving averages. Weekly charts also support downside.
     
  • Oscillators are at oversold levels, but we do see any major signs of reversal. 
     
  • Focus now on German GFK consumer confidence index for further impetus. 
     
  • The market-research group GfK's monthly survey is expected to show that German consumer sentiment will remain stable in April.
     
  • An above-forecast German GFK consumer confidence could support the euro higher.

Support levels - 1.1212 (88.6% Fib), 1.1183 (trendline), 1.1123 (200W SMA)

Resistance levels - 1.1244 (76.4% Fib), 1.1258 (5-DMA), 1.13

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

Forecast

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 766493766493m

ARAnnual Primary Balance*

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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 778313778313m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 766493766493m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 778313778313m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 766493766493m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766493766493m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 766493766493m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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