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EUR/CHF sidelined near 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/CHF has succumbed to the broader consolidative pattern that prevails amongst traders on Good Friday, gyrating around the 1.0900 handle.

    EUR/CHF points to further rangebound

    Despite maintaining the current consolidative pattern around 1.0900 the figure, the cross has managed to post gains in the last four sessions, with decent support around 1.0865/60 and gains so far limited near the 20-day sma, currently in the 1.0920/30 band.

    Going further, market participants remains wary of the performance of the single currency following the recent ECB announcements and the potential SNB action in case of extra downside pressure on the cross.

    EUR/CHF significant levels

    As of writing the cross is up 0.08% at 1.0913 facing the next hurdle at 1.0927 (20-day sma) ahead of 1.1036 (post-ECB high Mar.10) and finally 1.1056 (61.8% Fibo of 1.1211-1.0804). On the other hand, a breakdown of 1.0830 (200-day sma) followed by 1.0804 (2016 low Feb.29) and finally 1.0729 (monthly low Dec.24 2015).
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