OctaFX | OctaFX Forex Broker
Open trading account

EUR/CHF falls below 1.0850, focus on ECB

FXStreet (Córdoba) - EUR/CHF fell considerably on Monday and retraced Friday’s gains as the euro continued to weaken ahead of the European Central Bank policy decision due Thursday, when investors expect the bank to extend its QE programme.

EUR/CHF reached a 7-week high of 1.0925 on Friday amid speculations the SNB had intervened in the FX market. However, the pair failed to hold at highs and came under renewed pressure on Monday. Having touched a low of 1.0845, EUR/CHF is currently trading at 1.0855, down 0.36% on the day.

EUR/CHF levels to watch

In terms of technical levels, next supports are seen at 1.0845 (Nov 30 low/10-day SMA) and 1.0809 (Nov 25 low). On the other hand, resistances could be faced at 1.0915 (Nov 30 high) and 1.0925 (Nov 27 high) ahead of 1.0948 (Oct 13 high).

Gold rises back above $1060

Stocks failed to hold to gains in the US but commodities continue to recover. Gold bounced from multi-year lows and above $1060. It peaked during the American session at $1064.35. It remains near the highs, holding a bullish tone.
Read more Previous

EUR/USD: consolidating on 2000 - 2015 support line

EUR/USD is consolidating the downside on a key week. The morning in Europe was trickle of offers in a greenback dominated environment, plus worse than expected German retails and in line CPI, albeit higher Y/Y and m/m than prior by 0.1%. The US session let out some disappointments in data...
Read more Next
Start livechat