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Gains Deemed Corrective From A Technical Standpoint

CHF
Foreign Exchange BulletsHomepagemarkets-real-timeBulletMarketsSwiss National Bank Market News

Building on the previous bullet, the initial weakness in EUR/CHF & USD/CHF appears corrective at this stage, at least from a technical standpoint.

  • EUR/CHF has broken below the 20-day EMA. The next support to watch lies at the 50-day EMA (0.9772). A clear break of this average would signal potential for a deeper retracement and expose the May 3 low (0.9730).
  • USD/CHF is approaching support at the 50-day EMA (0.9055). A break here would expose short-term pivot support at the May 16 low (0.8988).
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Building on the previous bullet, the initial weakness in EUR/CHF & USD/CHF appears corrective at this stage, at least from a technical standpoint.

  • EUR/CHF has broken below the 20-day EMA. The next support to watch lies at the 50-day EMA (0.9772). A clear break of this average would signal potential for a deeper retracement and expose the May 3 low (0.9730).
  • USD/CHF is approaching support at the 50-day EMA (0.9055). A break here would expose short-term pivot support at the May 16 low (0.8988).