EUR/CHF finds support around 1.0750

EUR/CHF has managed to regain the 1.0800 handle and above after bottoming out in the mid-1.0700s during overnight trade.

EUR/CHF clings to gains after Trump

The up move in the cross, however, seems to have run out steam just above 1.0830 early in the European morning after billionaire Donald Trump became US President (currently 276 vs. 218).

As usual following these kind of moves, market participants have already factored in the ‘hand of the SNB’ behind today’s rebound from levels last seen just in the wake of the ‘Brexit’ vote in later June/early July.

Nothing expected data-wise in Switzerland for the remainder of the week, while global sentiment is expected to stay vigilant following today’s events in the United States.

EUR/CHF significant levels

As of writing the cross is gaining 0.19% at 1.0804 and a surpass of 1.0840 (high Nov.4) would expose 1.0880 (100-day sma) and then 1.0892 (55-day sma). On the other hand, the immediate support is located at 1.0745 (low Nov.7) ahead of 1.0700 (low Jun.27) and finally 1.0610 (post-Brexit low Jun.24).