1.0624 remains key to EURCHF
With the price of EUR/CHF just 30+ pips away from critical support, it remains to be seen if EUR/CHF can break out of its long established channel.
Political turmoil and a flight to the CHF could bring pressure on this pair in the next few weeks and months but its more likely we'll continue drifting.
We are SHORT this because of current political uncertainty and the threat Marine Le Pen putting in a strong showing in the forth coming French Elections. Although a Le Pen win can all but be ruled out a strong showing could be enough to hurt the EUR.
All the risk is to the downside and we don't see a even a likely Macron victory bringing much relief.
Political turmoil and a flight to the CHF could bring pressure on this pair in the next few weeks and months but its more likely we'll continue drifting.
We are SHORT this because of current political uncertainty and the threat Marine Le Pen putting in a strong showing in the forth coming French Elections. Although a Le Pen win can all but be ruled out a strong showing could be enough to hurt the EUR.
All the risk is to the downside and we don't see a even a likely Macron victory bringing much relief.
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