8 May 2015
EUR/CHF around 1.0350 post-CPI
FXStreet (Edinburgh) - The Swiss franc is appreciating vs. its European peer on Friday, sending EUR/CHF to the mid-1.0300s so far.
EUR/CHF little reaction on CPI
The cross remained apathetic after April’s consumer prices in the Alpine economy contracted 0.2% inter-month, taking the annual contraction to -1.1%. The inflation prints have not only missed previous estimates, but also dropped further from March’s 0.3% and -0.9%, respectively.
The cross has been falling almost uninterruptedly since last week’s multi-week peaks around 1.0520/25, with the franc looking to regain ground lost after the recent highs vs. the euro at 1.0230.
EUR/CHF levels to consider
As of writing the cross is losing 0.37% at 1.0345 facing the next support at 1.0305 (low May 7) ahead of 1.0294 (daily cloud base) and then 1.0236 (low Apr.20). On the other hand, a breakout of 1.0405 (hourly high May 7) would open the door to 1.0423 (high May 5) and finally 1.0479 (high May 4).
EUR/CHF little reaction on CPI
The cross remained apathetic after April’s consumer prices in the Alpine economy contracted 0.2% inter-month, taking the annual contraction to -1.1%. The inflation prints have not only missed previous estimates, but also dropped further from March’s 0.3% and -0.9%, respectively.
The cross has been falling almost uninterruptedly since last week’s multi-week peaks around 1.0520/25, with the franc looking to regain ground lost after the recent highs vs. the euro at 1.0230.
EUR/CHF levels to consider
As of writing the cross is losing 0.37% at 1.0345 facing the next support at 1.0305 (low May 7) ahead of 1.0294 (daily cloud base) and then 1.0236 (low Apr.20). On the other hand, a breakout of 1.0405 (hourly high May 7) would open the door to 1.0423 (high May 5) and finally 1.0479 (high May 4).