24 Jun 2015
EUR/CHF in a tight range near 1.0440
FXStreet (Edinburgh) - The single currency is trading almost unchanged vs. the Swiss franc on Wednesday, with EUR/CHF meandering around 1.0440.
EUR/CHF focus on Eurogroup meeting
The cross keeps the narrow range today ahead of the critical Eurogroup meeting due later in Brussels. The optimism around a favourable outcome from the meeting remains intact despite recent rumours stressing that differences between the negotiating parties remain wide and that EU officials have rejected the recent new list of Greek proposals.
In the data front, the German IFO have missed expectations for the month of June, while the Consumption Indicator in the Swiss economy tracked by UBS bettered to 1.73 during May from April’s 1.67.
EUR/CHF relevant levels
The cross is now up 0.07% at 1.0441 and a surpass of 1.0500 (high Jun.19) would expose 1.0535 (high Jun.18) and finally 1.0555 (high Jun.11). On the other hand, the next support lines up at 1.0404 (low Jun.17) ahead of 1.0400 (low Jun.3) and then 1.0392 (61.8% of 1.0280-1.0574).
EUR/CHF focus on Eurogroup meeting
The cross keeps the narrow range today ahead of the critical Eurogroup meeting due later in Brussels. The optimism around a favourable outcome from the meeting remains intact despite recent rumours stressing that differences between the negotiating parties remain wide and that EU officials have rejected the recent new list of Greek proposals.
In the data front, the German IFO have missed expectations for the month of June, while the Consumption Indicator in the Swiss economy tracked by UBS bettered to 1.73 during May from April’s 1.67.
EUR/CHF relevant levels
The cross is now up 0.07% at 1.0441 and a surpass of 1.0500 (high Jun.19) would expose 1.0535 (high Jun.18) and finally 1.0555 (high Jun.11). On the other hand, the next support lines up at 1.0404 (low Jun.17) ahead of 1.0400 (low Jun.3) and then 1.0392 (61.8% of 1.0280-1.0574).