25 Mar 2015
EUR/CHF still capped by 1.0500
FXStreet (Edinburgh) - The Swiss franc is shedding part of the recent gains vs. its European peer, with EUR/CHF now gyrating around 1.0480.
EUR/CHF bounced off 1.0420
The cross managed to gather traction after hitting multi-week lows in the 1.0420 region on Tuesday, accelerating the leg lower from weekly tops in the 1.0600 neighbourhood.
In the data front, the Consumption Indicator gauged by UBS came in at 1.19 for the last month, advancing from 1.11 previous. In the euro area, the German IFO indicator will be in the limelight later ahead of the SNB’s Quarterly Bulletin for Q1.
EUR/CHF levels to watch
At the moment the cross is gaining 0.13% at 1.0481 with the next hurdle at 1.0528 (38.2% of 1.0700-1.0422) followed by 1.0561 (50% of 1.0700-1.0422) and then 1.0580 (high Mar.24). On the flip side, a breach of 1.0422 (low Mar.24) would open the door to 1.0414 (low Feb.9) and finally1.0400 (psychological level).
EUR/CHF bounced off 1.0420
The cross managed to gather traction after hitting multi-week lows in the 1.0420 region on Tuesday, accelerating the leg lower from weekly tops in the 1.0600 neighbourhood.
In the data front, the Consumption Indicator gauged by UBS came in at 1.19 for the last month, advancing from 1.11 previous. In the euro area, the German IFO indicator will be in the limelight later ahead of the SNB’s Quarterly Bulletin for Q1.
EUR/CHF levels to watch
At the moment the cross is gaining 0.13% at 1.0481 with the next hurdle at 1.0528 (38.2% of 1.0700-1.0422) followed by 1.0561 (50% of 1.0700-1.0422) and then 1.0580 (high Mar.24). On the flip side, a breach of 1.0422 (low Mar.24) would open the door to 1.0414 (low Feb.9) and finally1.0400 (psychological level).