Analysis of the euro-franc pair

Euro-franc at the economic level

The euro-franc pair fluctuated on Thursday between ups and downs, in light of the scarcity of economic data from Switzerland and with the release of some important data from the eurozone this morning, represented by the service and manufacturing Purchasing Managers Index for France, Germany and the eurozone as a whole.

The data as a whole tended to be slightly negative for the European currency.

Euro-franc on a technical level

The pair is trading inside a bearish price channel and we are looking forward to reaching its lower limit near the levels of 0.9300.

And then complete the harmonic crab model near the levels of 0.9230.

The bearish scenario fails if the 0.9370 levels break higher with at least a 4-hour candle.