27 Feb 2015
EUR/CHF hovering over 1.0630
FXStreet (Edinburgh) - The Swiss franc is advancing vs. its European peer at the end of the week, taking EUR/CHF to the 1.0635/30 area.
EUR/CHF muted post-KOF
The cross kept the composure following the release of the Swiss KOF Leading Indicator, showing a drop to 90.1 during February vs. 90 forecasted and 96.1 previous. EUR/CHF remains in a correction mode, retracing recent tops in the boundaries of 1.0800 the figure on Wednesday/Thursday.
The current decline has been also fuelled by the significant sell off in the shared currency on Thursday, following auspicious releases from the US economy.
EUR/CHF levels to consider
The cross is now retreating 0.42% at 1.0634 with the immediate support at 1.0600 (psychological level) ahead of 1.0554 (low Feb.16) and then 1.0414 (low Feb.9). On the upside, a breakout of 1.0800 (high Feb.25) would expose 1.0811 (high Feb.20) and finally 1.0900 (psychological handle).
EUR/CHF muted post-KOF
The cross kept the composure following the release of the Swiss KOF Leading Indicator, showing a drop to 90.1 during February vs. 90 forecasted and 96.1 previous. EUR/CHF remains in a correction mode, retracing recent tops in the boundaries of 1.0800 the figure on Wednesday/Thursday.
The current decline has been also fuelled by the significant sell off in the shared currency on Thursday, following auspicious releases from the US economy.
EUR/CHF levels to consider
The cross is now retreating 0.42% at 1.0634 with the immediate support at 1.0600 (psychological level) ahead of 1.0554 (low Feb.16) and then 1.0414 (low Feb.9). On the upside, a breakout of 1.0800 (high Feb.25) would expose 1.0811 (high Feb.20) and finally 1.0900 (psychological handle).