Wednesday, September 9, 2015

EUR/CHF offered, challenges 1.0900

FXStreet (Edinburgh) - The Swiss franc is now reclaiming some ground vs. the euro on Wednesday, dragging EUR/CHF to test the critical support at 1.0900.

EUR/CHF down from almost 1.10

After hitting the highest level since the SNB move back in January around the psychological handle at 1.1000 on Tuesday, the cross has sparked a correction lower along with a bout of risk-off trade after the start of today’s session in Europe.

In addition, the increasing USD-selling in USD/CHF keeps collaborating with the intraday decline of the cross, trimming further the recent spike.

EUR/CHF levels to consider

As of writing the cross is losing 0.47% at 1.0918 and a breakdown of 1.0904 (low Sep.9) would aim for 1.0872 (low Sep.8) and then 1.0799 (low Sep.4). On the flip side, the next hurdle aligns at 1.0983 (high Sep.8) followed by 1.1000 (psychological level).
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