7 Apr 2015
EUR/CHF slips to 1.0450
FXStreet (Edinburgh) - The Swiss franc is extending its upside momentum vs. its European peer on Tuesday, pushing EUR/CHF back to the mid-1.0400s.
EUR/CHF capped by 1.0500
The cross is meandering in a narrow range so far, managing to leave recent troughs in sub-1.0400 levels, although further gains seem to be limited by the 1.0500 neighbourhood so far.
In the data space, the single currency is trading on the defensive side following mixed results from Services PMIs in the euro area. On the Swiss front, Foreign Currency Reserves climbed to CHF 522.3 billion during March, up from February’s CHF 509.3 billion.
EUR/CHF relevant levels
As of writing the pair is losing 0.27% at 1.0444 with the next support at 1.04000 (low Apr.3) ahead of 1.0300 (psychological level) and then 1.0294 (50% of 0.9776-1.0811). On the flip side, a break above 1.0545 (50% of 1.0700-1.0390) would aim for 1.0580 (high Mar.24) and finally 1.0583 (21-d MA).
EUR/CHF capped by 1.0500
The cross is meandering in a narrow range so far, managing to leave recent troughs in sub-1.0400 levels, although further gains seem to be limited by the 1.0500 neighbourhood so far.
In the data space, the single currency is trading on the defensive side following mixed results from Services PMIs in the euro area. On the Swiss front, Foreign Currency Reserves climbed to CHF 522.3 billion during March, up from February’s CHF 509.3 billion.
EUR/CHF relevant levels
As of writing the pair is losing 0.27% at 1.0444 with the next support at 1.04000 (low Apr.3) ahead of 1.0300 (psychological level) and then 1.0294 (50% of 0.9776-1.0811). On the flip side, a break above 1.0545 (50% of 1.0700-1.0390) would aim for 1.0580 (high Mar.24) and finally 1.0583 (21-d MA).