Back
4 Dec 2014
EUR/CHF keeps lows post-ECB
FXStreet (Edinburgh) - The Swiss franc is appreciating today vs. its European peer, sending EUR/CHF to tes the lower bund of the intraday range around 1.2030.
EUR/CHD softer, down from 1.2040
As usual, the cross is trading in a narrow 10-pip range, retreating from session tops in the 1.2040 neighbourhood. Better-than-expected Q3 GDP figures yesterday showed the Alpine economy expanded at an annual pace of 1.9% and 0.6% inter-quarter, up from previous 1.6% and 0.5%, respectively. The figures gave extra wings to CHF, although the decline halted in the 1.2025/20 band, sparking a subsequent recovery to today’s 1.2040. Ahead in the session, Draghi’s presser is next, with all the attention on the likeliness of further easing measures.
EUR/CHF levels to consider
The cross is now down 0.02% at 1.2032 with the next support at 1.2022 (low Dec.1) followed by 1.2009 (low Nov.19) and finally 1.2000 (SNB Target). On the upside, a surpass of 1.2046 (high Dec.2) would expose 1.2058 (high Nov.6) and then 1.2061 (high Nov.4).
EUR/CHD softer, down from 1.2040
As usual, the cross is trading in a narrow 10-pip range, retreating from session tops in the 1.2040 neighbourhood. Better-than-expected Q3 GDP figures yesterday showed the Alpine economy expanded at an annual pace of 1.9% and 0.6% inter-quarter, up from previous 1.6% and 0.5%, respectively. The figures gave extra wings to CHF, although the decline halted in the 1.2025/20 band, sparking a subsequent recovery to today’s 1.2040. Ahead in the session, Draghi’s presser is next, with all the attention on the likeliness of further easing measures.
EUR/CHF levels to consider
The cross is now down 0.02% at 1.2032 with the next support at 1.2022 (low Dec.1) followed by 1.2009 (low Nov.19) and finally 1.2000 (SNB Target). On the upside, a surpass of 1.2046 (high Dec.2) would expose 1.2058 (high Nov.6) and then 1.2061 (high Nov.4).