The Swiss franc is posting meagre gains vs. its European peer on Thursday, taking EUR/CHF to the 1.0840 area.
EUR/CHF attention to the SNB
A renewed selling interest is weighing on the single currency ahead of the European open today, although the cross remains entrenched in a consolidative scheme at current levels.
Later in the session, the SNB will hold its monetary policy meeting. In spite of market expectations seeing the central bank keeping its current stance, it will not surprise any mention of the ‘overvalued’ level of the franc and the readiness of the central bank to act.
EUR/CHF levels to consider
At the moment the cross is down 0.08% at 1.0835 and a breach of 1.0726 (low Nov.6) would expose 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049). On the flip side, the next up barrier aligns at 1.0948 (high Dec.3) followed by 1.0986 (high Oct.2) and then 1.1049 (high Sep.11).
EUR/CHF attention to the SNB
A renewed selling interest is weighing on the single currency ahead of the European open today, although the cross remains entrenched in a consolidative scheme at current levels.
Later in the session, the SNB will hold its monetary policy meeting. In spite of market expectations seeing the central bank keeping its current stance, it will not surprise any mention of the ‘overvalued’ level of the franc and the readiness of the central bank to act.
EUR/CHF levels to consider
At the moment the cross is down 0.08% at 1.0835 and a breach of 1.0726 (low Nov.6) would expose 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049). On the flip side, the next up barrier aligns at 1.0948 (high Dec.3) followed by 1.0986 (high Oct.2) and then 1.1049 (high Sep.11).
