EUR/CHF Keeps Lows Near 1.0970
The Swiss franc is gathering upside momentum on Monday, dragging EUR/CHF to the area of session lows in the 1.0980/70 band.
EUR/CHF gains capped near 1.1020
The cross is retreating from last week’s tops in the 1.1020 area, as the risk-off trade seems to be creeping back into the markets today, giving extra support to the safe haven CHF.
On the data front, the German IFO has missed forecasts for the current month, while Consumption Indicator and KOF Leading Indicators are due in the Alpine economy later in the week.
EUR/CHF significant levels
As of writing the cross is losing 0.09% at 1.0979 and a breakdown of 1.0939 (55-day sma) would expose 1.0925 (20-day sma) and finally 1.0837 (low Apr.7). On the other hand, the initial up move aligns at 1.1026 (high Apr.22) ahead of 1.1036 (post-ECB high Mar.10) and finally 1.1056 (61.8% Fibo of 1.1211-1.0804).