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4 Sep 2015
EUR/CHF upside capped by 1.0880
FXStreet (Edinburgh) - The Swiss franc is losing ground vs. the common currency at the end of the week, with EUR/CHF testing session highs in the upper-1.0800s.
EUR/CHF bounces off 1.0800
The cross is extending yesterday’s drop to the 1.0800 neighbourhood in the wake of the dovish ECB statement and the subsequent press conference by Mario Draghi. In the data space, consumer prices in the Alpine economy have matched expectations, contracting 0.2% inter-month in August and taking the annual contraction to 1.4%.
Ahead in the session, the US Non-farm Payrolls will take centre stage in the FX universe, with consensus expecting the US economy to have added 220K jobs during the last month.
EUR/CHF levels to consider
As of writing the cross is up 0.23% at 1.0852 facing the next up barrier at 1.0876 (high Sep.4) followed by 1.0903 (high Sep.2) and finally 1.0928 (high Aug.11). On the flip side, a breakdown of 1.0799 (low Sep.4) would aim for 1.0784 (low Aug.31) and then 1.0733 (low Aug.28).
EUR/CHF bounces off 1.0800
The cross is extending yesterday’s drop to the 1.0800 neighbourhood in the wake of the dovish ECB statement and the subsequent press conference by Mario Draghi. In the data space, consumer prices in the Alpine economy have matched expectations, contracting 0.2% inter-month in August and taking the annual contraction to 1.4%.
Ahead in the session, the US Non-farm Payrolls will take centre stage in the FX universe, with consensus expecting the US economy to have added 220K jobs during the last month.
EUR/CHF levels to consider
As of writing the cross is up 0.23% at 1.0852 facing the next up barrier at 1.0876 (high Sep.4) followed by 1.0903 (high Sep.2) and finally 1.0928 (high Aug.11). On the flip side, a breakdown of 1.0799 (low Sep.4) would aim for 1.0784 (low Aug.31) and then 1.0733 (low Aug.28).