7 Sep 2015
EUR/CHF consolidating around 1.0840
FXStreet (Edinburgh) - EUR/CHF is extending its overnight consolidative pattern into the European trading hours, now meandering around 1.0830/40.
EUR/CHF capped by 1.0900
The cross is navigating in the middle of the recent 1.0800-1.0900 range amidst the generalized lack of direction in the global markets, with Chinese activity back to normalcy after last week’s 2-day holidays passing almost unnoticed amongst traders.
Data wise in the region, EMU’s Investor Confidence tracked by the Sentix index is due, with consensus gyrating around 16.1 for the current month. Previously, German Industrial Production gained 0.7% MoM in July and Swiss Foreign Currency Reserves ticked higher to CHF540.0 billion during last month.
EUR/CHF levels to consider
As of writing the cross is losing 0.02% at 1.0839 and a breakdown of 1.0799 (low Sep.4) would aim for 1.0784 (low Aug.31) and then 1.0733 (low Aug.28). On the flip side, the next hurdle aligns at 1.0876 (high Sep.4) followed by 1.0903 (high Sep.2)
EUR/CHF capped by 1.0900
The cross is navigating in the middle of the recent 1.0800-1.0900 range amidst the generalized lack of direction in the global markets, with Chinese activity back to normalcy after last week’s 2-day holidays passing almost unnoticed amongst traders.
Data wise in the region, EMU’s Investor Confidence tracked by the Sentix index is due, with consensus gyrating around 16.1 for the current month. Previously, German Industrial Production gained 0.7% MoM in July and Swiss Foreign Currency Reserves ticked higher to CHF540.0 billion during last month.
EUR/CHF levels to consider
As of writing the cross is losing 0.02% at 1.0839 and a breakdown of 1.0799 (low Sep.4) would aim for 1.0784 (low Aug.31) and then 1.0733 (low Aug.28). On the flip side, the next hurdle aligns at 1.0876 (high Sep.4) followed by 1.0903 (high Sep.2)