FXStreet (Edinburgh) - The Swiss franc is alternating gains with losses vs. the single currency at the beginning of the week, now driving EUR/CHF to the 1.0940/45 band.
EUR/CHF capped by 1.0960
The cross keeps the narrow range while traders are waiting for the opening bell in London, coming down from overnight peaks around the 1.0960 area. In the meantime, a strong support seems to have carved in the proximity of 1.0900 the figure, although a more sustainable break above the psychological 1.1000 handle remains still elusive.
Nothing interesting on the data front, at least until Thursday when we get the preliminary manufacturing and services PMIs in the region. In the Alpine economy, trade balance figures are due tomorrow ahead of the SNB’s Quarterly Bulletin for the third quarter (Thursday).
EUR/CHF relevant levels
At the moment the cross is losing 0.14% at 1.0961 with the next support at 1.0922 (low Sep.10) ahead of 1.0878 (low Sep.9) and finally 1.0832 (low Sep.7). On the other hand, a break above 1.1011 (high Sep.15) would aim for 1.1049 (high Sep.11) and then 1.1100 (psychological level).
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