EUR/CHF climbs to highs near 1.0830

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Swiss franc is sharply lower vs. its European peer on Thursday, lifting EUR/CHF to daily peaks around 1.0830.

    EUR/CHF stronger post-CPI

    The cross is recovering part of yesterday’s deep pullback to the area of 1.0770, closer to the 100-day sma, following a pick up in EUR-buying after the opening bell in Euroland.

    In the meantime, the safe haven CHF remained indifferent to the small improvement of the SECO’s Consumer Climate in Switzerland (-18 act. vs. -19 prev.) and the better-than-expected inflation figures during October, showing consumer prices rising 0.1% inter-month and contracting at an annual pace of 1.4%.

    EUR/CHF levels to consider

    At the moment the cross is advancing 0.31% at 1.0824 and a breakout of 1.0885 (55-day sma) would expose 1.0930 (high Oct.30) and then 1.1049 (high Sep.11). On the other hand, the immediate support lines up at 1.0757 (100-day sma) followed by 1.0739 (low Oct.26) and finally 1.0703 (low Aug.20).
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