EUR/CHF sidelined around 1.0870

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 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. its European peer at the end of the week, taking EUR/CHF to the 1.0870/65 band.

    EUR/CHF navigating a narrow range

    The cross keeps the trade between 1.0860 and 1.0880 so far, in spite of the positive daily performance of EUR. The single currency paid little attention to the flash inflation figures for the current month, coming in flat on a yearly basis, while Core CPI advanced 1.0% YoY.

    In the meantime, the cross keeps its weekly gains so far and manages to revert two consecutive weeks of losses. Data wise in Switzerland, the KOF Leading Indicator has eased to 99.8 for the current month from September’s 100.3.

    EUR/CHF levels to consider

    At the moment the cross is up 0.12% at 1.0876 and a breakout of 1.0902 (downtrend from 1.1049) would expose 1.0983 (23.6% Fibo of 1.1058-1.0739) and then (1.1049 (high Sep.11). On the other hand, the next support aligns at 1.0815 (76.4% Fibo of 1.1058-1.0739) followed by 1.0739 (low Oct.26) and finally 1.0703 (low Aug.20).
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