EUR/CHF Climbs to Session Tops, 1.10 on Sight?

EUR/CHF Climbs to Session Tops, 1.10 on Sight?

8 June 2016, 10:10
Roberto Jacobs
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EUR/CHF Climbs to Session Tops, 1.10 on Sight?

The Swiss franc is now giving away part of yesterday’s strong advance vs. its European peer, sending EUR/CHF to the boundaries of 1.0990.

EUR/CHF higher post-CPI results

The cross has picked up further upside momentum after Swiss inflation figures tracked by the CPI have increased 0.1% MoM in May, missing expectations and down from April’s 0.4% advance; over the last twelve months, consumer prices have contracted 0.4%.

The cross is thus reverting three consecutive sessions with losses after climbing as high as the 1.1120 area on Friday, all backed by a wave of EUR-buying following Payrolls numbers.

EUR/CHF significant levels

As of writing the cross is up 0.07% at 1.0970 and a break above 1.1137 (high May 20) would expose 1.1172 (high Jan.29) and then 1.1211 (2016 high Feb.4). On the other hand, the next support aligns at 1.0955 (low Jun.7) followed by 1.0948 (low Apr.29) and finally 1.0931 (200-day sma).


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