6 Mar 2015
EUR/CHF drops to lows around 1.0700
FXStreet (Edinburgh) - The euro is accelerating the decline across the board on Friday, now sending EUR/CHF to fresh session lows in sub-1.0700 levels.
EUR/CHF down with euro
The cross is coming down from highs in the mid-1.0700s during the European morning, following the increasing offered tone around the single currency after the ECB meeting on Thursday.
The cross briefly clinched session highs around 1.0750 after consumer prices in the Alpine economy contracted more than previously estimated during February, 0.8% YoY and 0.3% inter-month vs. forecasts at -0.6% and 0.0%, respectively.
EUR/CHF levels to consider
The cross is now losing 0.34% at 1.0707 and a breach of 1.0610 (low Feb.27) would expose 1.0554 (low Feb.16) and finally 1.0414 (low Feb.9). On the other hand, the initial hurdle lines up at 1.0800 (high Feb.25) ahead of 1.0811 (high Feb.20) and then 1.1000 (psychological level).
EUR/CHF down with euro
The cross is coming down from highs in the mid-1.0700s during the European morning, following the increasing offered tone around the single currency after the ECB meeting on Thursday.
The cross briefly clinched session highs around 1.0750 after consumer prices in the Alpine economy contracted more than previously estimated during February, 0.8% YoY and 0.3% inter-month vs. forecasts at -0.6% and 0.0%, respectively.
EUR/CHF levels to consider
The cross is now losing 0.34% at 1.0707 and a breach of 1.0610 (low Feb.27) would expose 1.0554 (low Feb.16) and finally 1.0414 (low Feb.9). On the other hand, the initial hurdle lines up at 1.0800 (high Feb.25) ahead of 1.0811 (high Feb.20) and then 1.1000 (psychological level).