Chart - Courtesy Trading View
EUR/CHF was trading largely unchanged at 0.9785 at around 10:15 GMT.
The pair is struggling at daily cloud top resistance, break above required for upside continuation.
German ZEW headline numbers for October showed that the Economic Sentiment Index improved to -59.2, beating estimates of -65.7 vs. -61.9 previous.
German Current Situation sub-index arrived at -72.2 in October vs. -68.0 expectations and September’s -60.5.
Further, the Eurozone ZEW Economic Sentiment Index stood at -59.7 in the current month as compared to the -60.7 previous reading and -60.6 expected.
Hawkish comments from the European Central Bank (ECB) policymakers and improved market sentiment also support the pair.
Support levels - 0.9760 (5-DMA), 0.9697 (21-EMA)
Resistance levels - 0.9799 (Cloud top), 0.9848 (110-EMA)
Summary: EUR/CHF pivotal at cloud top. Watch out for decisive break above for upside continuation.
