EUR/CHF flat, wobbles around 1.1150

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss franc is advancing marginally vs. its European peer on Thursday, taking EUR/CHF to the area of recent highs around 1.1150.

    EUR/CHF stronger on EUR-buying

    The cross is advancing for the seventh week in a row, and remains on its way to challenge recent highs in the 1.1170 area following a softer tone in the Swiss currency and a somewhat firm sentiment gyrating around EUR. In addition, one could not rule out the ‘hand’ of the SNB behind this uninterrupted upside as well.

    While ECB’s Draghi and Mersch will keep investors entertained during the European morning, Switzerland’s Consumer Climate tracked by SECO has come in at -14 for the first quarter, bettering estimates at -15 and up from the previous -18.

    EUR/CHF significant levels

    At the moment the cross is losing 0.04% at 1.1153 with the immediate support at 1.1001 (20-day sma) followed by 1.0897 (55-day sma) and then 1.0885 (100-day sma). On the upside, a break above 1.1172 (high Jan.29) would expose 1.1200 (psychological level).

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