EUR/CHF bounces off 1.0800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency keeps depreciating vs. its G10 peers during the second half of the week, with EUR/CHF now hovering over the 1.0810/15 band.

    EUR/CHF softer ahead of ECB

    The cross seems to have found decent support around the key support at 1.0800 the figure following yesterday’s deep pullback from recent tops near 1.0940. All the attention will be on the ECB meeting due later today, where further easing measures are expected by market participants.

    In addition, the cross is poised to remain under pressure in light of the potential reaction of the SNB in case the ECB delivers as expected, which could result in an unwelcomed appreciation of the Alpine currency.

    EUR/CHF levels to consider

    At the moment the cross is down 0.10% at 1.0810 with the next support at 1.0726 (low Nov.6) followed by 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049). On the other hand, a breakout of 1.0939 (high Dec.1) would aim for 1.0986 (high Oct.2) and then 1.1049 (high Sep.11).
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