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26 Feb 2015
EUR/CHF drops to lows around 1.0770
FXStreet (Edinburgh) - A bout of buying interest in the Swiss franc is dragging EUR/CHF to test intraday lows in the 1.0775/70 band.
EUR/CHF capped by 1.0800
The cross briefly reached the area beyond 1.0800 the figure last Friday, the highest level post-SNB move in January. However, that area still remains elusive for bulls this week, with bullish attempts running out of steam in the upper-1.07s/1.08 so far.
Some sort of steadiness is prevailing this week around the single currency, making it difficult for the SNB to maintain the recent upside in the cross. In the data front, credit figures and money supply results will be the immediate event in Euroland, while industrial production figures will take centre stage in the Alpine economy.
EUR/CHF key levels
At the moment the cross is down 0.09% at 1.0767 with the immediate support at 1.0705 (10-d MA) ahead of 1.0633 (low Feb.18) and finally 1.0554 (low Feb.16). On the flip side, a breakout of 1.0811 (high Feb.20) would open the door to 1.1000 (psychological level) and finally 1.1549 (100-d MA).
EUR/CHF capped by 1.0800
The cross briefly reached the area beyond 1.0800 the figure last Friday, the highest level post-SNB move in January. However, that area still remains elusive for bulls this week, with bullish attempts running out of steam in the upper-1.07s/1.08 so far.
Some sort of steadiness is prevailing this week around the single currency, making it difficult for the SNB to maintain the recent upside in the cross. In the data front, credit figures and money supply results will be the immediate event in Euroland, while industrial production figures will take centre stage in the Alpine economy.
EUR/CHF key levels
At the moment the cross is down 0.09% at 1.0767 with the immediate support at 1.0705 (10-d MA) ahead of 1.0633 (low Feb.18) and finally 1.0554 (low Feb.16). On the flip side, a breakout of 1.0811 (high Feb.20) would open the door to 1.1000 (psychological level) and finally 1.1549 (100-d MA).