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EUR/CHF hits 1-month lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/CHF fell like a stone on Tuesday, losing more than 100 pips to hit a fresh 1-month lows, as the euro weakened on the back of soft German IFO data, while the swissy benefited from SNB’s Jordan comments.

    SNB President Thomas Jordan said that unconventional measures cannot be deployed endlessly.

    EUR/CHF fell more than a full cent and bottomed out at 1.0914 although it managed to find support ahead of the 1.0900 level. At time of writing, the pair is trading at 1.0927, still 0.83% below its opening price.

    EUR/CHF levels to watch

    In terms of technical levels, next supports are seen at 1.0914 (Feb 23 low), 1.0892 (100-day SMA) and 1.0868 (Jan 13 low). On the flip side, resistances could be found at 1.1026 (Feb 23 high), 1.1040 (20-day SMA) and 1.1060 (Feb 17 high).
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