Intraday Analysis from FXMarketAlerts.com
Receive FREE Weekly Strategies.Published at 07:24 (GMT) 29 Jun
Switzerland's KOF Indicator provided an upside surprise this morning, easily outpacing Germany's Ifo which took a tumble this month and likely to inhibit any attempts to take EUR/CHF higher in the more pro-EUR environment we find ourselves in this morning. However, our expectation that the euphoria that accompanied the EU summit statement in the early hours of the morning is likely to be undermined as the details come to light and some of the more hawkish Eurozone governments give us their spin on proceedings does tempt us yet again to call the EUR/USD rally a selling opportunity, and with that in mind and the SNB committed to protect 1.20 on EUR/CHF we won't be giving up on higher USD/CHF targets just yet. PB







