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EUR/CHF inching higher, near 1.0850

FXStreet (Edinburgh) - The initial upbeat momentum in the shared currency remains alive so far, now sending EUR/CHF to test the mid-1.0800s, close to session tops around 1.0860.

EUR/CHF focus on SNB, PMIs

The cross is looking to consolidate the recent drop from weekly highs around 1.0960 to the vicinity of 1.0820 posted yesterday, all amidst a generalized exodus from the riskier assets and mounting fears of a global slowdown.

Ahead in the session, the preliminary manufacturing and services PMIs in Euroland during the current month will be in the limelight, followed by Draghi’s speech and the SNB’s Quarterly Bulletin

EUR/CHF relevant levels

At the moment the cross is up 0.07% at 1.0853 and a break above 1.0888 (high Sep.22) would expose 1.0958 (high Sep.21) and then 1.0995 (high Sep.17). On the downside, the immediate support lines up at 1.0839 (low Sep.23) ahead of 1.0823 (low Sep.22) and finally 1.0800 (low Sep.4).

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