FXStreet (Edinburgh) – The Swiss franc is sharply lower vs. its European peer on Thursday, lifting EUR/CHF to daily peaks around 1.0830.
EUR/CHF stronger post-CPI
The cross is recovering part of yesterday’s deep pullback to the area of 1.0770, closer to the 100-day sma, following a pick up in EUR-buying after the opening bell in Euroland.
In the meantime, the safe haven CHF remained indifferent to the small improvement of the SECO’s Consumer Climate in Switzerland (-18 act. vs. -19 prev.) and the better-than-expected inflation figures during October, showing consumer prices rising 0.1% inter-month and contracting at an annual pace of 1.4%.
EUR/CHF levels to consider
At the moment the cross is advancing 0.31% at 1.0824 and a breakout of 1.0885 (55-day sma) would expose 1.0930 (high Oct.30) and then 1.1049 (high Sep.11). On the other hand, the immediate support lines up at 1.0757 (100-day sma) followed by 1.0739 (low Oct.26) and finally 1.0703 (low Aug.20).
(Market News Provided by FXstreet)