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).
