EUR/CHF rebounds to 1.0870, PMIs eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Swiss franc is trading almost unchanged vs. the single currency on Tuesday, taking EUR/CHF to the 1.0870 area so far.

    EUR/CHF indifferent to Swiss GDP

    The cross remained apathetic after the Alpine economy has expanded 0.8% on an annual basis during the third quarter, a tad lower than the previous 0.9% advance; on a quarterly basis, the GDP figures have come in flat QoQ.

    Ahead in the session, Retail Sales, SVME-PMI and Q3 Employment Level are all due in Switzerland, while November’s manufacturing PMIs are expected in Euroland.

    EUR/CHF levels to consider

    At the moment the cross is up 0.01% at 1.0870 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 1.0820 (100-day sma) followed by 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049).
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