EUR/CHF keeps lows near 1.0860

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency is posting moderate losses vs. its Swiss peer on Thursday, taking EUR/CHF to session lows in the 1.0865/60 band.

    EUR/CHF lower on EUR-weakness

    The current knee-jerk in the common currency keeps weighing on the cross, prompting sellers to take it once again below the key support at 1.0900.

    Without scheduled events or releases in the euro area or Switzerland today, markets attention have shifted to the US calendar, where inflation figures will take centre stage against the backdrop of increasing speculations on the timing of the Fed’s lift-off.

    EUR/CHF levels to consider

    At the moment the cross is losing 0.29% at 1.0866 and a breach of 1.0839 (monthly low Oct.9) would open the door to 1.0688 (100-day sma) and finally 1.0501 (Fibo 23.6% of 0.8696-1.1058). On the other hand, the initial up barrier aligns at 1.0945 (downtrend from 1.1058) ahead of 1.1000 (psychological mark) and then 1.1058 (high Sep.11).
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