EUR/CHF sidelined below 1.1000

FXStreet (Edinburgh) - EUR/CHF has returned to sub-1.1000 levels at the beginning of the week, following the prevailing risk-off sentiment in the global markets.

EUR/CHF lower on China, eyes on CHF data

The Swiss franc has been gathering pace throughout the Asian session in response to heightened jitters on the likeliness of a slowdown in the Chinese economy, as data released over the weekend have come in short of expectations.

The cross is coming from Friday’s tops around the mid-1.1000s, the highest level since the SNB move back in January, bolstered by the increasing bid tone around the euro.

Data wise, Retail Sales and Producer and Import Prices will see the light in the Alpine economy, while Italian CPI and Industrial Production in the euro area will take centre stage in Euroland.

EUR/CHF relevant levels

At the moment the cross is losing 0.03% at 1.0989 facing the next up barrier at 1.1000 (psychological handle) followed by 1.1049 (high Sep.11) and then 1.1100 (psychological level). On the flip side, a breakdown of 1.0970 (low Sep.11) would expose 1.0922 (low Sep.10) and finally 1.0878 (low Sep.9).