EUR/CHF fades the uptick to 1.0840

The shared currency keeps the firm tone vs. its Swiss peer on Wednesday, with EUR/CHF now retreating to the 1.0810 area.

EUR/CHF in 2016 lows

The cross has quickly broken below the recent sideline theme between 1.1000 and 1.1100, coming down to test the 1.0780 area, or fresh YTD lows, in response to a significant re-emergence of the risk aversion sentiment led by ‘Brexit’ jitters.

EUR will remains under pressure later in the NA session in light of the FOMC meeting, while the SNB is expected to keep its monetary stance unchanged at tomorrow’s meeting.

EUR/CHF significant levels

As of writing the cross is up 0.19% at 1.0816 and a break above 1.0929 (200-day sma) would expose 1.0987 (55-day sma) and then 1.1004 (20-day sma). On the other hand, the next support aligns at 1.0790 (2016 low Jun.14) followed by 1.0767 (low Dec.30 2015) and finally 1.0729 (monthly low Dec.24 2015).