EUR/CHF: Bullish momentum intact – SocGen
|Economists at Société Générale note that the EUR/CHF pair retains bullish momentum after Swiss inflation data came below forecast.
Last week’s low of 0.9500/0.9470 is an important support near term
Another downward surprise for Switzerland's CPI today for February will amp up expectations of a rate cut by the SNB this month. President Jordan who announced last week he will step down in September, said the policy target has been reached.
Upward momentum in EUR/CHF is intact.
Daily MACD has entered positive territory highlighting prevalence of upward momentum.
Last week’s low of 0.9500/0.9470 is an important support near term; defence of this zone could lead to persistence in up move.
Beyond 0.9610, next objectives could be located at last September/November highs of 0.9680 and 0.9775.
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.