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EUR/CHF choppy around 1.0900

FXStreet (Edinburgh) - The Swiss franc is posting marginal losses vs. the single currency after the European open on Friday, taking EUR/CHF to the 1.0900/10 band so far.

EUR/CHF keeps the recent range

The cross remains trapped within the 1.08-1.10 range that has been prevailing since mid-September so far amidst the absence of a relevant catalyst in the markets. While the SNB has reiterated its steady monetary stance as well as its readiness to act if needed, rumours on the likeliness that the ECB could modify its current QE programme have been also hovering over the markets.

The consolidative patters remains poised to extend at least until the ECB meeting in December, where the central bank will revise its forecasts for growth and inflation in the euro region and, according to market consensus, it could give further details on the future of the QE programme.

EUR/CHF relevant levels

The cross is now advancing 0.08% at 1.0908 facing the next hurdle at 1.0945 (downtrend from September peak) followed by 1.1000 (psychological level) and finally 1.1049 (high post-SNB move Sep.11). On the flip side, a breach of 1.0868 (uptrend from mid-Aug.) would aim for 1.0800 (monthly low Sep.4) and finally 1.0707 (100-day sma).

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