OctaFX | OctaFX Forex Broker
Open trading account

EUR/CHF off highs, back to 1.0930

FXStreet (Edinburgh) - The Swiss franc is now picking up pace vs. the single currency on Monday, dragging EUR/CHF back to the 1.0935/30 band.

EUR/CHF supported at 1.0920

The cross has managed to pick up pace from lows around 1.0920 recorded in early trade, boosted by the upbeat momentum in the shared currency following the opening bell in Euroland.

The cross continues to recover ground from last week’s sell-off to the 1.0860 area, amidst low volatility and a vacuum of relevant releases in the euro area and Switzerland at the beginning of the week.

EUR/CHF relevant levels

The cross is now advancing 0.12% at 1.0939 facing the next hurdle at 1.0948 (October peak) followed by 1.1000 (psychological level) and finally 1.1049 (high post-SNB move Sep.11). On the flip side, a breach of 1.0887 (55-day sma) would expose 1.0875 (uptrend from mid-Aug.) and then 1.0800 (monthly low Sep.4).

European stocks trade in the red, DAX bucks the trend

The European stocks wiped out opening gains and turned negative, bringing an end to the recent streak of gains, and completely shrugged-off the strong performance seen on the Chinese bourses.
Read more Previous

JPY: Easing not in sight at least for now - Rabobank

Jane Foley, Research Analyst at Rabobank, notes that the BoJ Governor Kuroda does not sound like a man desperate to ease policy further and at the sidelines of the weekend’s IMF meetings, Kuroda commented that “if necessary, we can further ease our monetary policy but at this moment the inflation dynamics is as we anticipated. So, at this stage we just continue QE, but if necessary we can adjust”.
Read more Next
Start livechat