EUR/CHF losing altitude, near 1.0970

By FXStreet FXStreet (Edinburgh) – The Swiss franc is now reclaiming some of the ground lost to the single currency during the Asian trading hours, taking EUR/CHF to the 1.0970 area.

EUR/CHF upside capped at 1.1000

The upside momentum in the cross seen overnight has found tough resistance around the psychological barrier at 1.1000 today, triggering the current correction lower ahead of the opening bell in Euroland.

Data wise in the region, Swiss ZEW Survey-Expectations is due later, followed by the final CPI figures in the euro area during last month. Consensus expects headline prices to have risen 0.2% YoY while the core reading is seen at 1.0%.

EUR/CHF relevant levels

At the moment the cross is losing 0.06% at 1.0972 with the next support at 1.0922 (low Sep.10) ahead of 1.0878 (low Sep.9) and finally 1.0832 (low Sep.7). On the other hand, a break above 1.1011 (high Sep.15) would aim for 1.1049 (high Sep.11) and then 1.1100 (psychological level).
For more information, read our latest forex news. …read more

Source:: FX Street