25 May 2015
EUR/CHF dips to lows near 1.0350
FXStreet (Edinburgh) - The Swiss franc is appreciating vs. its European peer at the beginning of the week, taking EUR/CHF to fresh lows in the mid-1.03s.
EUR/CHF in 3-week lows
The cross continues to correct lower after reaching peaks in the 1.0500 neighbourhood in the last couple of weeks, retreating to levels last seen in early May. The uncertainty around Greece continues to be the main drag for the single currency as of late, giving further support to the safe haven CHF in consequence.
Ahead in the week, Switzerland’s Employment Level is due tomorrow (4.210 M in Q1 exp.) followed by Trade Balance results and Industrial Production (Thursday) and the GDP figures during the first quarter (Friday).
EUR/CHF levels to watch
At the moment the cross is retreating 0.41% at 1.0350 with the imminent support at 1.0333 (low May 8) ahead of 1.0305 (low May 7) and finally 1.0300 (psychological level). On the upside, a break above 1.0460 (61.8% of 1.0505-1.0387) would expose 1.0465 (high May 20) and then 1.0505 (high May 15).
EUR/CHF in 3-week lows
The cross continues to correct lower after reaching peaks in the 1.0500 neighbourhood in the last couple of weeks, retreating to levels last seen in early May. The uncertainty around Greece continues to be the main drag for the single currency as of late, giving further support to the safe haven CHF in consequence.
Ahead in the week, Switzerland’s Employment Level is due tomorrow (4.210 M in Q1 exp.) followed by Trade Balance results and Industrial Production (Thursday) and the GDP figures during the first quarter (Friday).
EUR/CHF levels to watch
At the moment the cross is retreating 0.41% at 1.0350 with the imminent support at 1.0333 (low May 8) ahead of 1.0305 (low May 7) and finally 1.0300 (psychological level). On the upside, a break above 1.0460 (61.8% of 1.0505-1.0387) would expose 1.0465 (high May 20) and then 1.0505 (high May 15).