14 Jul 2015
EUR/CHF testing lows near 1.0400
FXStreet (Edinburgh) - The Swiss franc is now picking up pace vs. the euro, dragging EUR/CHF back to the 1.0400 neighbourhood.
EUR/CHF weaker on Greece
Despite the recent deal between Greece and its EU creditors, the situation around the Hellenic country remains fragile in light of the upcoming Greek Parliamentary vote and rising discontent within the Syriza party, with rumours that PM A.Tsipras could step down following the vote on Wednesday.
In the data space, the ZEW Survey in Switzerland and Germany will take centre stage today ahead of EMU’s CPI and the ECB meeting on Thursday.
EUR/CHF levels to consider
At the moment the cross is retreating 0.34% at 1.0421 and a breach of 1.0404 (low Jul.14) would aim for 1.0393 (low Jul.9) and finally 1.0366 (low Jul.7). On the other hand, the initial up barrier aligns at 1.0467 (high Jul.14) followed by 1.0442 (high Jul.13) and then 1.0525 (high Jul.10).
EUR/CHF weaker on Greece
Despite the recent deal between Greece and its EU creditors, the situation around the Hellenic country remains fragile in light of the upcoming Greek Parliamentary vote and rising discontent within the Syriza party, with rumours that PM A.Tsipras could step down following the vote on Wednesday.
In the data space, the ZEW Survey in Switzerland and Germany will take centre stage today ahead of EMU’s CPI and the ECB meeting on Thursday.
EUR/CHF levels to consider
At the moment the cross is retreating 0.34% at 1.0421 and a breach of 1.0404 (low Jul.14) would aim for 1.0393 (low Jul.9) and finally 1.0366 (low Jul.7). On the other hand, the initial up barrier aligns at 1.0467 (high Jul.14) followed by 1.0442 (high Jul.13) and then 1.0525 (high Jul.10).