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1 Sep 2015
EUR/CHF challenging lows near 1.0830
FXStreet (Edinburgh) - The Swiss franc is now picking up pace vs. the single currency on Tuesday, dragging EUR/CHF to test the lower bound of the range near 1.0830.
EUR/CHF remains above 1.0800
The cross is surrendering part of the important advance seen at the beginning of the week, although it manages well to keep the trade above the recently broken 1.0800 key barrier so far.
Data wise, manufacturing PMIs in the euro are and Switzerland will be the main highlight today ahead of the critical ECB monetary policy meeting due on Thursday.
EUR/CHF levels to consider
At the moment the cross is retreating 0.14% at 1.0833 with the next resistance at 1.0855 (high Aug.31) followed by 1.0871 (high Aug.27) and finally 1.0891 (high Aug.14). On the flip side, a breakdown of 1.0784 (low Aug.31) would aim for 1.0733 (low Aug.28) and then 1.0712 (low Aug.20).
EUR/CHF remains above 1.0800
The cross is surrendering part of the important advance seen at the beginning of the week, although it manages well to keep the trade above the recently broken 1.0800 key barrier so far.
Data wise, manufacturing PMIs in the euro are and Switzerland will be the main highlight today ahead of the critical ECB monetary policy meeting due on Thursday.
EUR/CHF levels to consider
At the moment the cross is retreating 0.14% at 1.0833 with the next resistance at 1.0855 (high Aug.31) followed by 1.0871 (high Aug.27) and finally 1.0891 (high Aug.14). On the flip side, a breakdown of 1.0784 (low Aug.31) would aim for 1.0733 (low Aug.28) and then 1.0712 (low Aug.20).