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EUR/CHF comes down to test 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/CHF is trading within a narrow range, in line with the broader fashion in the global markets on Easter Monday.

    EUR/CHF consolidative around 1.0900

    In the meantime, the cross is struggling to keep daily gains near 1.0900 the figure at the beginning of the week, extending the recent sideline pattern so far capped around the 20-day sma in the 1.0930/35 band.

    Against the backdrop of radio silence from both the ECB and the SNB, this week’s calendar come to the fore, with EMU’s credit figures and M3 Money Supply due tomorrow and Switzerland’s KOF indicator due on Wednesday.

    EUR/CHF significant levels

    As of writing the cross is losing 0.08% at 1.0907 and a breakdown of 1.0866 (low Mar.23) would expose 1.035 (200-day sma) and finally 1.0804 (2016 low Feb.29). On the other hand, the initial up move aligns at 1.0933 (20-day sma) ahead of 1.1036 (post-ECB high Mar.10) and finally 1.1056 (61.8% Fibo of 1.1211-1.0804).
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