16 Feb 2015
EUR/CHF challenges 1.0600
FXStreet (Edinburgh) - The Swiss franc is appreciating vs. the single currency on Monday, sending EUR/CHF to test the 1.0600 neighbourhood.
EUR/CHF coming down from fresh peaks
After hitting fresh highs in the 1.0640 area last Thursday, the cross is now correcting lower towards the 1.0600 neighbourhood, following the drop in USD/CHF.
It will be an interesting week for the cross: while the Eurogroup and Greece will try to clinch a deal on the Greek debt today, the ECB will publish its ‘accounts’ (minutes) on Thursday. In addition, on the Swiss side, SNB’s Thomas Jordan will give a speech tomorrow ahead of the ZEW Survey on Wednesday.
EUR/USD levels to watch
The cross is now losing 0.17% at 1.0609 with the immediate support at 1.0500 (psychological level) ahead of 1.0414 (low Feb.9) and then 1.0213 (low Jan.29). On the upside, a break above 1.0638 (high Feb.13) would expose 1.0642 (high Feb.5) and then 1.0700 (psychological handle).
EUR/CHF coming down from fresh peaks
After hitting fresh highs in the 1.0640 area last Thursday, the cross is now correcting lower towards the 1.0600 neighbourhood, following the drop in USD/CHF.
It will be an interesting week for the cross: while the Eurogroup and Greece will try to clinch a deal on the Greek debt today, the ECB will publish its ‘accounts’ (minutes) on Thursday. In addition, on the Swiss side, SNB’s Thomas Jordan will give a speech tomorrow ahead of the ZEW Survey on Wednesday.
EUR/USD levels to watch
The cross is now losing 0.17% at 1.0609 with the immediate support at 1.0500 (psychological level) ahead of 1.0414 (low Feb.9) and then 1.0213 (low Jan.29). On the upside, a break above 1.0638 (high Feb.13) would expose 1.0642 (high Feb.5) and then 1.0700 (psychological handle).