EUR/CHF Unmotivated Near 1.1070

EUR/CHF Unmotivated Near 1.1070

27 May 2016, 10:04
Roberto Jacobs

EUR/CHF Unmotivated Near 1.1070

EUR/CHF is alternating gains with losses at the end of the week, hovering over the 1.1070 area following Swiss data.

EUR/CHF upside limited at 1.1130

The cross met downside pressure following last week’s tops in the 1.1130 area, although buyers have turned up in the vicinity of 1.1030 on Wednesday, sustaining the ongoing bounce amidst erratic EUR performance.

In the data space, Employment Level in the Alpine economy has ticked lower to 4.880 million during Q1 from the previous 4.897 million, while French Consumer Confidence has improved to 98 for the current month.

EUR/CHF significant levels

As of writing the cross is losing 0.04% at 1.1073 and a breakdown of 1.1030 (low May 25) would aim for 1.1005 (low May 13) and finally 1.0980 (55-day sma). On the other hand, the next up barrier is located at 1.1137 (high May 20) followed by 1.1172 (high Jan.29) and then 1.1211 (2016 high Feb.4).


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