FXStreet (Edinburgh) – The Swiss franc is trading on a firmer footing vs. the euro on Friday, taking EUR/CHF to the lower end of the range near 1.0920.
EUR/CHF upside limited around 1.0960
Yesterday’s upside momentum in the single currency has propelled the cross to peaks in the area of 1.0960, although the hawkish tone by Chief J.Yellen has quickly taken over sentiment and sparked a new wave of selling interest in EUR.
In the data space, nothing is scheduled in Switzerland, while M3 Money Supply and Private Loans figures are only due in Euroland. US GDP figures during the second quarter plus speeches by Fed members E.George and J.Bullard are also poised to be the main drivers of today’s session.
EUR/CHF relevant levels
At the moment the cross is losing 0.28% at 1.0926 with the next support at 1.0845 (low Sep.23) ahead of 1.0823 (low Sep.22) and finally 1.0800 (low Sep.4). On the other hand, the next up barrier aligns at 1.0957 (high Sep.25) ahead of 1.0973 (high Sep.18) and then 1.0995 (high Sep.17).
(Market News Provided by FXstreet)