EUR/CHF is testing a key support zone ahead of the Eurozone PMI releases!
If you were watching other currency pairs, you should note that EUR/CHF tried to make new monthly highs earlier this week thanks in part to a risk-friendly trading environment.
But the R1 (.9680) Pivot Point line and previous resistance zone was too strong and EUR/CHF ended up falling all the way to the .9640 zone.
It didn’t help that the FOMC meeting minutes underscored the Fed’s hawkishness and rained on the risk-takers’ parade ahead of a long weekend in the U.S.
Will EUR/CHF extend its uptrend?
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