Today’s soft inflation data from Germany has given rise to EUR selling across the board except against the CHF, with EURCHF now trading at daily highs and nearing Yesterdays highs of 1.2214 a break above and we eye a test of last weeks highs of 1.2223.
EURCHF 1 hour chart
Despite the data hinting to the market the ECB would act with lose monetary policy we have seen EURCHF continue to push higher. A break of the 1.2223 would open up another push higher to test the 1.2250.
