17 Feb 2015
EUR/CHF limited by 1.0600
FXStreet (Edinburgh) - The Swiss franc is posing marginal losses vs. the euro on Tuesday, with EUR/CHF navigating below the 1.0600 handle so far.
EUR/CHF eyes on Jordan
The cross keeps the trade within a 40-pip range so far, meandering between 1.0560 and 1.0600 ahead of the speech by SNB’s T.Jordan in the European evening. The recent Eurogroup-Greece no deal prompted sellers to step in once again, taking the cross from tops in the mid-1.0600s to current levels.
In the data space, the Swiss Trade Balance figures and the ZEW Survey are due this week. From a technical perspective, Karen Jones, Head of FICC Technical Analysis at Commerzbank commented, “It is likely that 1.0670 (61.8% retracement) will again hold the topside. Above 1.0670 will introduce scope to 1.08455, 1.1003, 1.1255”.
EUR/CHF levels to consider
As of writing the cross is up 0.18% at 1.0596 facing the next resistance at 1.0638 (high Feb.13) ahead of 1.0642 (high Feb.5) and finally 1.0646 (high Feb.16). On the other hand a breach of 1.0551 (low Feb.16) would expose 1.0489 (low Feb.12) and then 1.0441 (low Feb.11)
EUR/CHF eyes on Jordan
The cross keeps the trade within a 40-pip range so far, meandering between 1.0560 and 1.0600 ahead of the speech by SNB’s T.Jordan in the European evening. The recent Eurogroup-Greece no deal prompted sellers to step in once again, taking the cross from tops in the mid-1.0600s to current levels.
In the data space, the Swiss Trade Balance figures and the ZEW Survey are due this week. From a technical perspective, Karen Jones, Head of FICC Technical Analysis at Commerzbank commented, “It is likely that 1.0670 (61.8% retracement) will again hold the topside. Above 1.0670 will introduce scope to 1.08455, 1.1003, 1.1255”.
EUR/CHF levels to consider
As of writing the cross is up 0.18% at 1.0596 facing the next resistance at 1.0638 (high Feb.13) ahead of 1.0642 (high Feb.5) and finally 1.0646 (high Feb.16). On the other hand a breach of 1.0551 (low Feb.16) would expose 1.0489 (low Feb.12) and then 1.0441 (low Feb.11)