30 Jan 2015
EUR/CHF unchanged after Eurozone data
FXStreet (Mumbai) - The EUR/CHF pair remains largely unchanged post the Eurozone data as a drop in the unemployment rate may have negated the impact of the fall in the CPI.
EUR/CHF settles below 1.05 levels
The pair had clocked a high of 1.0516 earlier today. However, the EUR weakened ahead of the CPI data in anticipation of a drop in the cost of living in the Eurozone. Hence, we have not seen much reaction after the data was released. The preliminary Eurozone CPI for January came-in at -0.6%, against expected print of -0.5%, and down from the previous month’s final figure of -0.2%. Core inflation also slowed down to 0.5% against expected print of 0.7%.
However, the EUR may have found support from the dip in the unemployment rate to 11.4% in December.
EUR/CHF Technical Levels
The pair currently trades at 1.0442, after having hit a high of 1.0516 levels. The immediate resistance is seen at 1.0516, above which a major resistance is seen directly at 1.1476 (50-DMA). On the flip side, a break below 1.0375 could see the pair re-test 1.0252 levels.
EUR/CHF settles below 1.05 levels
The pair had clocked a high of 1.0516 earlier today. However, the EUR weakened ahead of the CPI data in anticipation of a drop in the cost of living in the Eurozone. Hence, we have not seen much reaction after the data was released. The preliminary Eurozone CPI for January came-in at -0.6%, against expected print of -0.5%, and down from the previous month’s final figure of -0.2%. Core inflation also slowed down to 0.5% against expected print of 0.7%.
However, the EUR may have found support from the dip in the unemployment rate to 11.4% in December.
EUR/CHF Technical Levels
The pair currently trades at 1.0442, after having hit a high of 1.0516 levels. The immediate resistance is seen at 1.0516, above which a major resistance is seen directly at 1.1476 (50-DMA). On the flip side, a break below 1.0375 could see the pair re-test 1.0252 levels.