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EUR/CHF testing lows sub-1.0800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The now softer mood around the common currency is driving EUR/CHF to test session lows in the vicinity of 1.0790.

    EUR/CHF sidelined near 1.0800

    The cross is extending its sideline pattern around the 1.0800 handle as of late, coming down from recent peaks in the mid-1.0900s against the backdrop of an empty docket in Euroland and a steady monetary stance of the SNB.

    Ahead in the week, the ZEW Survey in both the euro area and Switzerland is due, along with December’s PMIs and the SNB Quarterly Bulleting for Q4, all in a week dominated by the FOMC meeting (Wednesday).

    EUR/CHF levels to consider

    At the moment the cross is down 0.15% at 1.0794 and a breach of 1.0726 (low Nov.6) would expose 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049). On the flip side, the next up barrier aligns at 1.0948 (high Dec.3) followed by 1.0986 (high Oct.2) and then 1.1049 (high Sep.11).
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