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Forex: EUR/CHF dips to lows below 1.2300

The Swiss franc is rapidly appreciating against the single currency on Thursday, following the prevailing risk aversion stemmed from the hawkish tone from yesterday’s FOMC minutes.

In the data front, the trade surplus of the Alpine economy during January widened to CHF 2.126 billion from CHF 904 million in the previous print. Consensus was expecting CHF 2.2 billion.

At the moment, the pair is retreating 0.22% at 1.2287
Next support levels line up at 1.2271 (MA55d) ahead of 1.2255 (low Feb.8/11) and then 1.2228 (Lower Bollinger).
On the other hand, a break above 1.2348 (MA21d) would accelerate the upside towards 1,2360 (highs Feb.19/20) and finally 1.2387 (high Feb.13).

Forex: EUR/GBP gets below 0.8700 after Markit PMI

PMI data in the Eurozone countries including the EMU Composite figure have triggered a push below the 0.8700 line in the EUR/GBP. Previously holding just below 0.8740, the cross dropped below its opening price and is now -0.42% lower on the day as it trades at 0.8683. The current daily low is 0.8675.
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