EUR/CHF off highs, back to 1.0930

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Swiss franc is now picking up pace vs. the single currency on Monday, dragging EUR/CHF back to the 1.0935/30 band.

    EUR/CHF supported at 1.0920

    The cross has managed to pick up pace from lows around 1.0920 recorded in early trade, boosted by the upbeat momentum in the shared currency following the opening bell in Euroland.

    The cross continues to recover ground from last week’s sell-off to the 1.0860 area, amidst low volatility and a vacuum of relevant releases in the euro area and Switzerland at the beginning of the week.

    EUR/CHF relevant levels

    The cross is now advancing 0.12% at 1.0939 facing the next hurdle at 1.0948 (October peak) followed by 1.1000 (psychological level) and finally 1.1049 (high post-SNB move Sep.11). On the flip side, a breach of 1.0887 (55-day sma) would expose 1.0875 (uptrend from mid-Aug.) and then 1.0800 (monthly low Sep.4).
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