EUR/CHF bounces off lows near 1.0830

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency is now attempting a rebound following the mixed opening bell in Europe, taking EUR/CHF to the 1.0835/40 band.

    EUR/CHF keeps the tight range

    Despite the bullish attempt in EUR/CHF, the Swiss franc is clinging to its daily gains vs. its European peer at the beginning of the week, while the prospects of a Fed’s lift-off in December remains the main drag for the common currency for the time being.

    Ahead in the session, November’s flash Manufacturing and Services PMIs are due in the euro area, while the next events in the Alpine economy will be Wednesday’s UBS Consumption Indicator.

    EUR/CHF levels to consider

    At the moment the cross is losing 0.09% at 1.0832 facing the immediate support at 1.0795 (100-day sma) followed by 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049). On the other hand, a surpass of 1.0930 (high Oct.30) would aim for 1.0986 (high Oct.2) and then 1.1049 (high Sep.11).
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