LimitMarkets
Short

EURCHF still under downside bias

FX:EURCHF   Euro / Swiss Franc
Euro firmed around 1.090 level against haven franc. It proved to be resilient to the ongoing governmental crisis in Italy. It lifted on positive PMI data in Germany and the Eurozone overall. Franc is still in demand as recession fears persist. ECB policymakers said in July minutes the different measures and actions will need to be taken to boost the economy thus the common currency will be under pressure whether they decide to cut rates. 1.0950 provide resistance while support is found at 1.0850.
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