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4 Mar 2015
EUR/CHF falls below hourly 200-MA
FXStreet (Mumbai) - The EUR/CHF pair snapped two-day rally to trade below the hourly 200-MA located at 1.0741 levels ahead of the services PMI release data across the Eurozone and tomorrow’s ECB meet.
The pair currently trades at 1.0718; down 0.25%. The single currency has come under pressure ahead of the European Central Bank meet tomorrow. Though no major surprises are likely, the bank is expected to unveil the details of its bond purchase program. Meanwhile, the final services PMI reports in the Eurozone are likely to confirm the upbeat preliminary estimates released in the last month.
EUR/CHF Technical Levels
The immediate resistance is seen at 1.0741, above which gains could be extended to 1.0808. On the flip side, support is seen at 1.0714 (100-MA) and 1.0686 levels.
The pair currently trades at 1.0718; down 0.25%. The single currency has come under pressure ahead of the European Central Bank meet tomorrow. Though no major surprises are likely, the bank is expected to unveil the details of its bond purchase program. Meanwhile, the final services PMI reports in the Eurozone are likely to confirm the upbeat preliminary estimates released in the last month.
EUR/CHF Technical Levels
The immediate resistance is seen at 1.0741, above which gains could be extended to 1.0808. On the flip side, support is seen at 1.0714 (100-MA) and 1.0686 levels.