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EUR/CHF below 1.0900 on data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Swiss franc is depreciating vs. its European peer at the beginning of the week, with EUR/CHF hovering over the 1.0880/85 band so far.

    EUR/CHF muted post-releases

    The cross has remained mostly apathetic after Retail Sales in the Alpine economy has expanded at an annual pace of 0.2%, matching initial estimates and reverting the previous 0.6% drop.

    Further data saw October’s SVME PMI improving to 50.7 vs. 50.2 expected and up from September’s 49.5.

    The cross remains on recovery mode in the meantime, coming up from last week’s drop to the area of 1.0740 and with the interim target around 1.0930, recent peaks.

    EUR/CHF levels to consider

    At the moment the cross is advancing 0.13% at 1.0887 and a breakout of 1.0919 (downtrend from 1.1049) would expose 1.0930 (high Oct.30) and then 1.1049 (high Sep.11). On the other hand, the immediate support aligns at 1.0745 (100-day sma) followed by 1.0739 (low Oct.26) and finally 1.0822 (200-day sma).
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