OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/CHF advances to 1.0840

FXStreet (Edinburgh) - The single currency keeps appreciating vs. its Swiss peer on Wednesday, pushing EUR/CHF to test highs around 1.0840.

EUR/CHF within range ahead of SNB

The cross seems now to be stabilizing around the mid-1.0800s after being rejected from the 1.0950 area in the wake of the ECB gathering last week, with EUR-dynamics acting as the main driver of the price action.

Data wise in the Alpine economy, the unemployment rate stayed unchanged at a seasonally adjusted 3.4% MoM in November, all ahead of tomorrow’s key SNB meeting, where consensus expects the central bank to reiterate its steady stance.

EUR/CHF levels to consider

At the moment the cross is up 0.28% at 1.0837 facing the next resistance at 1.0948 (high Dec.3) followed by 1.0986 (high Oct.2) and then 1.1049 (high Sep.11). On the other hand, a breach of 1.0726 (low Nov.6) would expose 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049).

Oil sees relief rally as US inventories dip

Oil prices at both the sides of the Atlantic rose today as oil stocks in the US dipped.
Read more Previous

World Bank sees no recovery in commodity prices over next 5 years

World Bank, in its latest review, mentioned the commodity prices are unlikely to see a recovery over the next 5 years.
Read more Next
Start livechat