22 Jan 2015
EUR/CHF assaulting 1.0000
FXStreet (Edinburgh) - The shared currency is looking to regain the parity level vs. the Swiss franc on Thursday, now lifting EUR/CHF to the upper-0.99s.
EUR/CHF still looking for a ‘fair value’ post-SNB
The cross tested the 0.9915/10 band at the end of the Asian session today, although it has later managed to gather traction and advance towards the parity area. A week has passed already since the SNB surprised everyone by removing the 1.20 peg vs. the euro, and the cross seems to have found a consolidating range between 0.9830 and 1.0230 so far. Big day for the euro today, and for the SNB too. If Draghi surprises the markets and deliver a bigger than expected QE programme, that will add further selling pressure to the cross and prompt (force?) the SNB to intervene in order to avoid further franc appreciation.
EUR/CHF significant levels
At the moment the cross is up 0.27% at 0.9977 with the next resistance at 1.0250 (hourly high Jan.16) followed by 1.0651 (high Jan.15) and then 1.1000 (psychological level). On the other hand, a breakdown of psychological levels at 0.9900 and 0.9800 would expose 0.9751 (low Jan.16).
EUR/CHF still looking for a ‘fair value’ post-SNB
The cross tested the 0.9915/10 band at the end of the Asian session today, although it has later managed to gather traction and advance towards the parity area. A week has passed already since the SNB surprised everyone by removing the 1.20 peg vs. the euro, and the cross seems to have found a consolidating range between 0.9830 and 1.0230 so far. Big day for the euro today, and for the SNB too. If Draghi surprises the markets and deliver a bigger than expected QE programme, that will add further selling pressure to the cross and prompt (force?) the SNB to intervene in order to avoid further franc appreciation.
EUR/CHF significant levels
At the moment the cross is up 0.27% at 0.9977 with the next resistance at 1.0250 (hourly high Jan.16) followed by 1.0651 (high Jan.15) and then 1.1000 (psychological level). On the other hand, a breakdown of psychological levels at 0.9900 and 0.9800 would expose 0.9751 (low Jan.16).