LimitMarkets

EURCHF in oversold area

Short
FX:EURCHF   Euro / Swiss Franc
Euro struggles to rebound from previous falls. Friday data showed services PMI for Eurozone advanced to 53.4, but manufacturing slowed to 47.8 showing a strong contraction. Overall, Markit PMI advanced to 52.1. Bearish sentiment persists but overvalued Swiss Franc is not welcomed indicating SNB could intervene. The new low at 1.1500 in sight. If breached the 1.1000 should be considered.

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