EUR/CHF unmotivated around 1.0850

By FXStreet FXStreet (Edinburgh) – The Swiss franc is trading almost unchanged vs. its European peer at the beginning of the week, with EUR/CHF hovering over the mid-1.08s so far.

EUR/CHF down from 1.0950

The cross has started the week trading in a tight range while market participants keep digesting the recent US Non-farm Payrolls (211K) and last Thursday’s ECB meeting, where M.Draghi failed to meet market expectations of a more dovish tone.

Ahead in the week, Switzerland’s labour market figures are due on Wednesday, while the more relevant SNB meeting is due on Thursday, followed by the press conference by President T.Jordan.

EUR/CHF levels to consider

At the moment the cross is up 0.06% at 1.0847 facing the next resistance at 1.0948 (high Dec.3) followed by 1.0986 (high Oct.2) and then 1.1049 (high Sep.11). On the other hand, a breach of 1.0726 (low Nov.6) would expose 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049).
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Source:: FX Street