Thursday, September 24, 2015

EUR/CHF around the top of the range near 1.0950

FXStreet (Edinburgh) - EUR/CHF has been trading in a consolidative pattern throughout the Asian session on Thursday, keeping the tight range around the mid-1.0900s.

EUR/CHF attention to EMU data

Nothing new from the SNB on Thursday apart from the usual rhetoric around the ‘overvalued’ franc has left the cross to the mercy of EUR-dynamics, lifting it to the upper bond of the range near 1.0960, where it is now trying to consolidate.

Renewed buying interest around EUR following ECB chatter ruling out further easing by the ECB for the time being has given extra wings to the single currency on Wednesday, allowing the cross to extend its rebound from weekly troughs near 1.0820.

EUR/CHF relevant levels

At the moment the cross is losing 0.10% at 1.0946 with the next support at 1.0845 (low Sep.23) ahead of 1.0823 (low Sep.22) and finally 1.0800 (low Sep.4). On the other hand, the next up barrier aligns at 1.0961 (high Sep.24) ahead of 1.0973 (high Sep.18) and then 1.0995 (high Sep.17).
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