EURCHF:Key Level and Political Risks

Hello Traders,

In today's trading session, we're closely monitoring EUR/CHF for a potential selling opportunity around the 0.96500 zone. The pair had been in an uptrend but recently broke out of it and is now in a correction phase. It is approaching the 0.96500 area, which serves as both a support and resistance level.

Adding to the EUR's challenges, the recent EU parliamentary elections in France resulted in a significant majority for a far-right candidate, historically known for advocating France's exit from the EU. This outcome is detrimental to the EUR. Additionally, President Macron has called for an early French election, which exacerbates political instability and poses further risks to the EUR.

Trade safe, Joe.