19 Jun 2015
EUR/CHF bounces off lows near 1.0430
FXStreet (Edinburgh) - The Swiss franc is extending its upbeat tone vs. the euro on Friday, with EUR/CHF navigating in the 1.0450/40 band.
EUR/CHF softer on Greek jitters
Increasing pessimism around Greece and the outcome of its debt talks with the EU creditors keep the cautious tone amongst market participants, and is directly favouring the demand for the safe haven CHF, leaving the cross within the weekly 1.0400-1.0550 range so far.
The SNB left unchanged its monetary policy at its meeting this week, with the press conference by President T.Jordan reiterating that the franc remains ‘significantly overvalued’ and that the central bank is ready to act in case of need. The next event will be the SNB’s Quarterly Bulleting due on Wednesday.
EUR/CHF levels to consider
At the moment the cross is losing 0.23% at 1.0447 with the next support at 1.0404 (low Jun.17) followed by 1.0400 (low Jun.3) and then 1.0392 (daily cloud base). On the other hand, a surpass of 1.0555 (high Jun.11) would aim for 1.0574 (high Jun.4) and finally 1.0591 (61.8% of 1.0811-1.0236).
EUR/CHF softer on Greek jitters
Increasing pessimism around Greece and the outcome of its debt talks with the EU creditors keep the cautious tone amongst market participants, and is directly favouring the demand for the safe haven CHF, leaving the cross within the weekly 1.0400-1.0550 range so far.
The SNB left unchanged its monetary policy at its meeting this week, with the press conference by President T.Jordan reiterating that the franc remains ‘significantly overvalued’ and that the central bank is ready to act in case of need. The next event will be the SNB’s Quarterly Bulleting due on Wednesday.
EUR/CHF levels to consider
At the moment the cross is losing 0.23% at 1.0447 with the next support at 1.0404 (low Jun.17) followed by 1.0400 (low Jun.3) and then 1.0392 (daily cloud base). On the other hand, a surpass of 1.0555 (high Jun.11) would aim for 1.0574 (high Jun.4) and finally 1.0591 (61.8% of 1.0811-1.0236).