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22 Apr 2015
EUR/CHF consolidates above 1.0300
FXStreet (Edinburgh) - The Swiss franc is markedly lower vs. its European peer on Wednesday, with EUR/CHF returning to levels beyond the 1.0300 handle.
EUR/CHF in multi-day peaks
The cross managed to clinch the mid-1.0300 after the SNB informed further exceptions from its scheme of negative rates. The central bank reported that negative interest rates will now also apply to sight deposits held by enterprises associated with the Confederation and the pension fund.
The persistent softness around the euro plus sustainable demand for the safe haven CHF sparked the leg lower from February tops just above 1.0800 the figure.
EUR/CHF levels to consider
At the moment the cross is advancing 0.87% at 1.0342 with the next hurdle at 1.0401 (high Apr.13) ahead of 1.0495 (high Apr.6) and finally 1.0601 (high Mar.23). On the downside, a break below 1.02345 (low Apr.20) would expose 1.0083 (low Jan.27) and then 0.9819 (low Jan.26).
EUR/CHF in multi-day peaks
The cross managed to clinch the mid-1.0300 after the SNB informed further exceptions from its scheme of negative rates. The central bank reported that negative interest rates will now also apply to sight deposits held by enterprises associated with the Confederation and the pension fund.
The persistent softness around the euro plus sustainable demand for the safe haven CHF sparked the leg lower from February tops just above 1.0800 the figure.
EUR/CHF levels to consider
At the moment the cross is advancing 0.87% at 1.0342 with the next hurdle at 1.0401 (high Apr.13) ahead of 1.0495 (high Apr.6) and finally 1.0601 (high Mar.23). On the downside, a break below 1.02345 (low Apr.20) would expose 1.0083 (low Jan.27) and then 0.9819 (low Jan.26).