EUR/CHF bounces off lows, around 1.0890

The Swiss franc is markedly lower vs. its European peer on Monday, taking EUR/CHF to the vicinity of the 1.0900 key barrier.

EUR/CHF up on Brexit

Dwindling fears on the probability of a ‘Brexit’ scenario at the EU-UK Referendum on Thursday have mitigated inflows to the safe haven CHF at the beginning of the week, favouring the demand for the riskier assets.

Ahead in the week, Switzerland’s ZEW Expectations are due on Wednesday, although market attention will remain firmly on the referendum on June 23 as the exclusive driver for the sentiment in the near term.

EUR/CHF significant levels

As of writing the cross is up 0.53% at 1.0881 and a break above 1.0927 (200-day sma) would expose 1.0956 (20-day sma) and then 1.1117 (high Jun.3). On the other hand, the immediate support aligns at 1.0777 (2016 low Jun.16) ahead of 1.0767 (low Dec.30 2015) and finally 1.0729 (monthly low Dec.24 2015).

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