EUR/CHF Comes Down to Test 1.0900
EUR/CHF is trading within a narrow range, in line with the broader fashion in the global markets on Easter Monday.
EUR/CHF consolidative around 1.0900
In the meantime, the cross is struggling to keep daily gains near 1.0900 the figure at the beginning of the week, extending the recent sideline pattern so far capped around the 20-day sma in the 1.0930/35 band.
Against the backdrop of radio silence from both the ECB and the SNB, this week’s calendar come to the fore, with EMU’s credit figures and M3 Money Supply due tomorrow and Switzerland’s KOF indicator due on Wednesday.
EUR/CHF significant levels
As of writing the cross is losing 0.08% at 1.0907 and a breakdown of 1.0866 (low Mar.23) would expose 1.035 (200-day sma) and finally 1.0804 (2016 low Feb.29). On the other hand, the initial up move aligns at 1.0933 (20-day sma) ahead of 1.1036 (post-ECB high Mar.10) and finally 1.1056 (61.8% Fibo of 1.1211-1.0804).
(Market News Provided by FXstreet)
