23 Mar 2015
EUR/CHF consolidates below 1.0600
FXStreet (Edinburgh) - The single currency is appreciating vs. the Swiss franc on Monday, although EUR/CHF keeps the trade below the 1.0600 so far.
EUR/CHF focus on Greece
The cross is extending its rebound from last week’s lows around the 1.0500 key support, coming down from recent peaks in the 1.0700 neighbourhood. In the meantime, all the attention will be at the meeting between A.Merkel and A.Tsipras today, against the backdrop of increasing scepticism around the debt negotiations.
In the Swiss economy, the next release will be the Consumption Indicator tracked by UBS for the month of February, due on Wednesday (1.24 prev.).
EUR/CHF levels to consider
The cross is now advancing 0.32% at 1.0589 with the next hurdle at 1.0614 (50% of 1.07-1.0528) followed by 1.0670 (21-d MA) and finally 1.070 (high Mar.19). On the downside, a breach of 1.0528 (low Mar.20) would expose 1.0518 (low Mar.13) and then 1.0416 (38.2% of 0.9776-1.0811).
EUR/CHF focus on Greece
The cross is extending its rebound from last week’s lows around the 1.0500 key support, coming down from recent peaks in the 1.0700 neighbourhood. In the meantime, all the attention will be at the meeting between A.Merkel and A.Tsipras today, against the backdrop of increasing scepticism around the debt negotiations.
In the Swiss economy, the next release will be the Consumption Indicator tracked by UBS for the month of February, due on Wednesday (1.24 prev.).
EUR/CHF levels to consider
The cross is now advancing 0.32% at 1.0589 with the next hurdle at 1.0614 (50% of 1.07-1.0528) followed by 1.0670 (21-d MA) and finally 1.070 (high Mar.19). On the downside, a breach of 1.0528 (low Mar.20) would expose 1.0518 (low Mar.13) and then 1.0416 (38.2% of 0.9776-1.0811).