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EUR/CHF sidelining below 1.09, attention to PMIs

FXStreet (Edinburgh) - The Swiss franc is posting marginal losses vs. the single currency on Thursday, taking EUR/CHF to trade in a consolidative pattern below 1.09 the figure.

EUR/CHF looks to PMIs for direction

The cross has been retreating since Monday following another unsuccessful attempt to break above the psychological handle at 1.1000, which keeps limiting the upside.

Next of relevance for the pair will be the final prints of the manufacturing PMIs in Euroland, while Retal Sales and the SVME PMI are due in the Alpine economy. In addition, ECB’s member D.Nouy will give a speech on ‘Financial Supervision in Europe – on the right track?’, during the European afternoon.

EUR/CHF relevant levels

At the moment the cross is up 0.09% at 1.0888 with he next resistance at 1.0945 (high Sep.30) followed by 1.0973 (high Sep.18) and then 1.0995 (high Sep.17). On the downside, a break below 1.0845 (low Sep.23) would expose 1.0823 (low Sep.22) and then 1.0800 (low Sep.4).

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