9 Jun 2015
EUR/CHF down from 1.0500
FXStreet (Edinburgh) - The Swiss franc is now regaining some ground lost to its European peer on Tuesday, sending EUR/CHF to session lows near 1.0460.
EUR/CHF weaker on EUR, CHF data
The cross has faded the initial spike to the 1.0500 neighbourhood after consumer prices in Switzerland surprised markets to the upside during the last month, rising 0.2% on a monthly basis and reverting April’s 0.2% drop. Over the last twelve month, prices contracted 1.2%, matching forecasts.
Still in the Alpine economy, May’s unemployment rate remained unchanged at a seasonally adjusted 3.3% MoM. Ahead in the session, EMU’s Q1 GDP is due, with consensus pointing at 0.4% inter-quarter and 1.0% annualized.
EUR/CHF relevant levels
At the moment the cross is losing 0.06% at 1.0468 facing the immediate support at 1.0427 (50% of 1.0280-1.0574) followed by 1.0400 (low Jun.3) and finally 1.0380 (hourly low Jun.2). On the upside, a break above 1.0537 (high Jun.5) would open the door to 1.0574 (high Jun.4) and then 1.0600 (psychological level).
EUR/CHF weaker on EUR, CHF data
The cross has faded the initial spike to the 1.0500 neighbourhood after consumer prices in Switzerland surprised markets to the upside during the last month, rising 0.2% on a monthly basis and reverting April’s 0.2% drop. Over the last twelve month, prices contracted 1.2%, matching forecasts.
Still in the Alpine economy, May’s unemployment rate remained unchanged at a seasonally adjusted 3.3% MoM. Ahead in the session, EMU’s Q1 GDP is due, with consensus pointing at 0.4% inter-quarter and 1.0% annualized.
EUR/CHF relevant levels
At the moment the cross is losing 0.06% at 1.0468 facing the immediate support at 1.0427 (50% of 1.0280-1.0574) followed by 1.0400 (low Jun.3) and finally 1.0380 (hourly low Jun.2). On the upside, a break above 1.0537 (high Jun.5) would open the door to 1.0574 (high Jun.4) and then 1.0600 (psychological level).