After a while, the EURCHF long trade becomes interesting again, if anything, at least from a technical analysis perspective.
The Euro has been pressured to the downside in recent weeks due to the Italian budget standoff but also by weakening economic prospects in the biggest EU economies.
However, despite all the negative fundamentals, the 1.1300 support level has held in EURCHF and this suggests the pair could make a rebound at least toward the 1.1400 level in the short-term.
Currently trading around 1.1315, a buy EURCHF position is worth a go considering that the current price is very close to support and there is a good amount of room till the next resistance at 1.1400 to profit on.
Additionally, there were some positive developments today regarding the Italian budget standstill where Italy's Government officials stated that reducing the deficit is acceptable for them as long as it doesn't reduce growth.
So, with a tight stop, long trades could offer good profits if the trade works out well.
