EUR/CHF upside capped near 1.0860

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - EUR/CHF is trading in a tight range on Tuesday, following the prevailing lack of direction in the broader markets.

    EUR/CHF focus on EMU data

    The cross is advancing for the second consecutive session so far, finding good support in the 1.0800 neighbourhood and deriving upside fom a better sentiment around EUR.

    Data wise, EMU’s GDP figures for the third quarter are due next, while the SNB monetary policy meeting will be the main event in the Alpine economy (Thursday).

    Market unease around the potential reactions of the SNB on further ECB stimulus has somewhat allayed after President Draghi failed to meet market expectations at the ECB meeting last week.

    EUR/CHF levels to consider

    At the moment the cross is up 0.01% at 1.0850 facing the next resistance at 1.0948 (high Dec.3) followed by 1.0986 (high Oct.2) and then 1.1049 (high Sep.11). On the other hand, 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).
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