Back
23 Oct 2015
EUR/CHF regains 1.0800 and above
FXStreet (Edinburgh) - After bottoming out in the 1.0780 area, EUR/CHF has managed to regain the 1.0800 handle and advance to current session tops near 1.0820.
EUR/CHF lower on ECB, focus on SNB
The cross has dropped to the 1.0780 area following a dovish tone by ECB’s Draghi at his press conference on Thursday, where he hinted at the likeliness of further easing by the central bank in the near term, triggering as consequence a wave of selling pressure around EUR.
However, the downside in the cross appears somewhat limited, as the SNB has argued many times that it could intervene in the FX markets in case of heavy EUR-selling.
EUR/CHF levels to consider
At the moment the cross is up 0.03% at 1.0815 and a surpass of 1.0879 (55-day ma) followed by 1.0914 (downtrend from 1.1049) and then 1.1049 (high Sep.11). On the other hand, the immediate support aligns at 1.0776 (low Oct.16) ahead of 1.0716 (100-day ma) and finally 1.0501 (Fibo 23.6% of 0.8696-1.1058).
EUR/CHF lower on ECB, focus on SNB
The cross has dropped to the 1.0780 area following a dovish tone by ECB’s Draghi at his press conference on Thursday, where he hinted at the likeliness of further easing by the central bank in the near term, triggering as consequence a wave of selling pressure around EUR.
However, the downside in the cross appears somewhat limited, as the SNB has argued many times that it could intervene in the FX markets in case of heavy EUR-selling.
EUR/CHF levels to consider
At the moment the cross is up 0.03% at 1.0815 and a surpass of 1.0879 (55-day ma) followed by 1.0914 (downtrend from 1.1049) and then 1.1049 (high Sep.11). On the other hand, the immediate support aligns at 1.0776 (low Oct.16) ahead of 1.0716 (100-day ma) and finally 1.0501 (Fibo 23.6% of 0.8696-1.1058).