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EUR/CHF off highs, back to 1.0850

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Swiss franc is trading almost unchanged vs. its European peer on Thursday, taking EUR/CHF to the area of 1.0850.

    EUR/CHF indifferent to Swiss data

    The cross kept the composure after the Swiss Industrial Production has contracted at an annual pace of 5.1% during the third quarter, accentuating the previous drop of 2.4%.

    Next on tap will be EMU’s credit figures, with Private Loans and M3 Money Supply for the month of October. In the meantime, market participants remains vigilant on the SNB in light of the potential announcement of additional easing measures by the ECB in December.

    EUR/CHF levels to consider

    At the moment the cross is up 0.01% at 1.0853 and a surpass of 1.0930 (high Oct.30) would aim for 1.0986 (high Oct.2) and then 1.1049 (high Sep.11). On the other hand, the next support lines up at 1.0802 (100-day sma) followed by 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049).
    For more information, read our latest forex news.
     

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