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EUR/CHF unchanged, toying with 1.0800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Swiss franc is posting marginal losses vs. its European counterpart on Monday, with EUR/CHF flirting with the 1.0800 handle.

    EUR/CHF trims recent losses

    The cross is extending its rebound from Friday’s troughs around 1.0730, looking to regain levels beyond 1.0800 the figure at the beginning of the week, all against the backdrop of mild risk aversion in response to the poor Chinese results.

    Data wise in Switzerland, Total Sight Deposits ticked a tad lower to CHF 467.2 billion in the week ended on November 6, while German trade surplus shrunk to €19.4 billion during September.

    EUR/CHF levels to consider

    At the moment the cross is advancing 0.02% at 1.0809 and a breakout of 1.0884 (55-day sma) would expose 1.0930 (high Oct.30) and then 1.1049 (high Sep.11). On the other hand, the immediate support lines up at 1.0756 (100-day sma) followed by 1.0739 (low Oct.26) and finally 1.0703 (low Aug.20).
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