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5 Feb 2015
EUR/CHF regains 1.0500
FXStreet (Edinburgh) - The Swiss franc is now shedding some of its recent advance vs. its European peer, pushing EUR/CHF back above the 1.0500 handle.
EUR/CHF bounces off 1.0480
After a short-lived sideline pattern around 1.0480, the cross managed to break above it and retake 1.0500 and beyond, returning at the same time to the positive territory. In the data space, Swiss Consumer Climate tracked by SECO contracted less than expected during Q4, coming in at -6 vs. -11 previous.
In another note, the Swiss government argued that a strong franc could weigh on the GDP growth and affect the country’s competitiveness, adding that the likelihood of an economic slowdown in the domestic economy remains difficult to evaluate.
EUR/CHF important levels
The cross is now advancing 0.05% at 1.0520 and a surpass of 1.0621 (high Feb.3) would expose 1.0625 (high Feb.4) and finally 1.0700 (psychological level). On the downside, the initial support lines up at 1.0472 (low Feb.5) ahead of 1.0357 (low Jan.30) and then 1.0240 (low Jan.29).
EUR/CHF bounces off 1.0480
After a short-lived sideline pattern around 1.0480, the cross managed to break above it and retake 1.0500 and beyond, returning at the same time to the positive territory. In the data space, Swiss Consumer Climate tracked by SECO contracted less than expected during Q4, coming in at -6 vs. -11 previous.
In another note, the Swiss government argued that a strong franc could weigh on the GDP growth and affect the country’s competitiveness, adding that the likelihood of an economic slowdown in the domestic economy remains difficult to evaluate.
EUR/CHF important levels
The cross is now advancing 0.05% at 1.0520 and a surpass of 1.0621 (high Feb.3) would expose 1.0625 (high Feb.4) and finally 1.0700 (psychological level). On the downside, the initial support lines up at 1.0472 (low Feb.5) ahead of 1.0357 (low Jan.30) and then 1.0240 (low Jan.29).