EUR/CHF off highs, back to 1.0820

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The single currency is now surrendering part of the important daily advance vs. the Swiss franc, with EUR/CHF hovering over the 1.0820 area.

    EUR/CHF upside limited by 1.0830

    The cross is up for the second straight session today, gaining further ground in response to the earlier rally in the single currency, as the profit-taking sentiment continues to weigh on the greenback.

    On the data front, Switzerland’s ZEW Survey – Expectations came in at 0.0 for the current month, down from October’s 18.3. Ahead in the session, EUR will remain under the microscope in light of the FOMC minutes due later.

    EUR/CHF levels to consider

    At the moment the cross is gaining 0.23% at 1.0824 and a surpass of 1.0876 (downtrend from 1.1049) would aim for 1.0930 (high Oct.30) and then 1.1049 (high Sep.11). On the other hand, the immediate support aligns at 1.0778 (100-day sma) followed by 1.0501 (23.6% Fibo of 0.8695-1.1049) and finally 1.0156 (38.2% Fibo of 0.8695-1.1049).
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