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FxWirPro- Swiss Economic data

Swiss GDP surged to 0.70% Q/Q in Q2, above the forecast of 0.60% from 0.50% Q1. The jump was mainly led by the pharma and chemical industries.

Switzerland's CPI declined to 1.1% y/y compared to a forecast of 1.2%. Prior 1.3%. Core inflation came at 1.1% y/y from the previous month's 1.1%.

The strong growth and easing inflation will increase the chance of further rate cuts by SNB.

Major resistance- 0.8640

 

Near-term resistance - 0.8540,0.8600

 

Minor support-  0.8474,0.8435.

Trend reversal level- 0.838.

 

 

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