3 Feb 2015
EUR/CHF sidelined near 1.05300
FXStreet (Edinburgh) - EUR/CHF is attempting a consolidative pattern around the 1.0530 area on Tuesday.
EUR/CHF muted post data
The cross would be looking to consolidate the recent break above the 1.0500 handle, following the rumours that the SNB could set a ‘corridor’ for the cross between 1.05 and 1.10. In the data space, the cross paid no attention to the trade balance figures for the Alpine economy during December, with the trade surplus shrinking to CHF 1,515 million from CHF 3,795 million in the previous month.
EUR/CHF levels to watch
The cross is now advancing 0.08% at 1.0522 with the next resistance at 1.0588 (high Feb.2) ahead of 1.0600 and 1.0700 (psychological levels). On the flip side, a breach of 1.0500 (psychological level) would expose 1.0353 (low Jan.30) and then 1.0199 (low Jan.29).
EUR/CHF muted post data
The cross would be looking to consolidate the recent break above the 1.0500 handle, following the rumours that the SNB could set a ‘corridor’ for the cross between 1.05 and 1.10. In the data space, the cross paid no attention to the trade balance figures for the Alpine economy during December, with the trade surplus shrinking to CHF 1,515 million from CHF 3,795 million in the previous month.
EUR/CHF levels to watch
The cross is now advancing 0.08% at 1.0522 with the next resistance at 1.0588 (high Feb.2) ahead of 1.0600 and 1.0700 (psychological levels). On the flip side, a breach of 1.0500 (psychological level) would expose 1.0353 (low Jan.30) and then 1.0199 (low Jan.29).