EUR/CHF Outlook: Bears extend to the lowest level since 2015
|The cross extends steep bear-leg from 1.0727 (5 Feb lower high) through key support at 1.0631 (21 Feb 2017 low) and hit new multi-year low at 1.0609 (the lowest since Aug 2015).
Safe-haven Swiss franc remains well supported by growing uncertainty about coronavirus spreading that prompted investors into less riskier assets while the Euro remains under strong pressure from rising dollar and risk of ECB rate cut.
Daily studies are firmly bearish but deeply oversold that so far hasn’t impacted bears.
German Q4 GDP data release on Friday is in focus for fresh signals, with weaker than expected figures to increase pressure on Euro as well as raise expectations for rate cut.
On the other side, bears may pause if GDP data beat forecast.
Res: 1.0631; 1.0673; 1.0694; 1.0713
Sup: 1.0609; 1.0588; 1.0500; 1.0450
Interested in EUR/CHF technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.