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EUR/CHF clinches 1.0900, daily highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Swiss franc remains on the defensive this week, pushing EUR/CHF to test 3-day peaks just above the 1.0900 handle.

    EUR/CHF higher on risk-appetite


    The persistent upbeat sentiment around the risk-appetite trends continue to weigh on the Swiss currency so far, prompting the cross to re-visit levels above the 1.0900 mark. Positive results from a higher-than-expected Chinese trade balance have triggered a wave of buying mood in the riskier assets in detriment of safe haven currencies like JPY and CHF.

    There are no releases due in the Alpine economy, while EMU’s Industrial Production has missed expectations during November.

    EUR/CHF key levels

    At the moment the cross is up 0.12% at 1.0897 facing the next resistance at 1.0948 (high Dec.3) ahead of 1.0986 (high Oct.2) and finally 1.1058 (high Sep.11). On the downside, a breach below 1.0844 (20-day sma) followed by 1.0729 (low Dec.24) and then 1.0683 (200-day sma).
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