EUR/CHF off highs post-GDP, near 1.0840

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The Swiss franc has recovered some pips after the release of the GDP figures in Switzerland, taking EUR/CHF to the area of 1.0840.

    EUR/CHF supported near 1.0800

    The cross is posting meager gains today after the Alpine economy has expanded at an annual pace of 0.4% during Q4, according to today’s GDP figures. On a quarterly basis, the GDP has also expanded 0.4%, both prints surpassing initial estimates at 0.1% and 0.2%, respectively.

    Traders remain vigilant on the cross and any potential SNB reaction in light of the upcoming ECB meeting (March 10) and the likeliness that the ECB could step up its easing efforts in order to tackle the current disinflation pressures in the euro area.

    EUR/CHF significant levels

    As of writing the cross is gaining 0.12% at 1.0845 facing the next resistance at 1.0895 (100-day sma) followed by 1.00942 (55-day sma) and finally 1.1070 (high Feb.17). On the other hand, a breach of 1.0804 (low Feb.29) would aim for 1.0789 (200-day sma) and then 1.0729 (low Dec.24 2015).
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