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EUR/CHF hovering over 1.0800

FXStreet (Edinburgh) - The Swiss franc is trading on a firmer footing vs. its peers at the beginning of the week, taking EUR/CHF back to the 1.0800 neighbourhood.

EUR/CHF lower on CHF bid

The recent tragic events in Paris have prompted investors to increase their demand for the safe haven CHF at the beginning of the week, sending the cross to daily lows near 1.0780 albeit recovering some ground afterwards.

On the data front, final October’s inflation figures in the euro area are due this morning, while Switzerland’s ZEW Survey and Trade Balance figures are expected later in the week.

EUR/CHF levels to consider

At the moment the cross is down 0.24% at 1.0801 and a breakdown of 1.0775 (100-day sma) would aim for 1.0739 (low Oct.26) and finally 1.0703 (low Aug.20). On the other hand, the immediate resistance lines up at 1.0881 (downtrend from 1.1049) followed by 1.0930 (high Oct.30) and then 1.1049 (high Sep.11).

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