EUR/CHF upside capped near 1.0880

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Swiss franc remains on the defensive side vs. its European peer on Tuesday, with EUR/CHF now testing the 1.0865/70 band.

    EUR/CHF ignores Swiss data

    The cross has remained apathetic despite the Consumption Indicator tracked by UBS has ticked higher to 1.65 during September vs. August’s 1.63. Back to the euro area, Private Loans and M3 Money Supply gauges are due later although they’re not likely to impact on the cross.

    EUR/CHF has gathered traction at the beginning of the week, managing to revert the dropt to the 1.0780 area following the bid tone around USD/CHF.

    EUR/CHF levels to consider

    At the moment the cross is losing 0.18% at 1.0855 with the immediate support at 1.0739 (low Oct.26) ahead of 1.0725 (100-day ma) and finally 1.0501 (Fibo 23.6% of 0.8696-1.1058). On the other hand, a breakout of 1.0876 (55-day ma) would aim for 1.0900 (downtrend from 1.1049) and then 1.1049 (high Sep.11).
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