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EUR/CHF wobbles around 1.0850

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Swiss franc is trading almost unchanged vs. its European peer on Thursday, taking EUR/CHF to the 1.0850/55 band so far.

    EUR/CHF muted on Swiss, German data

    The cross is trading isolated from the broader risk trends today, extending the rangebound pattern between 1.0800 and 1.0900 seen during the first week of the year.

    On the data front, the jobless rate in the Alpine economy stayed put at a seasonally adjusted 3.4% during December, while German releases showed the trade surplus shrunk more than expected to €19.7 billion in November and Industrial Production has contracted at a monthly pace of 0.3%.

    EUR/CHF key levels

    At the moment the cross is flat at 1.0854 with the next up barrier at 1.0899 (downtrend from 1.1058) followed by 1.0948 (high Dec.3) and finally 1.1058 (high Sep.11). On the flip side, a breach of 1.0729 (low Dec.24) would aim for 1.0676 (200-day sma) and then 1.0501 (23.6% Fibo of 0.8695-1.1058).
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