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3 Sep 2015
EUR/CHF fails at 1.0900 and retreats
FXStreet (Córdoba) - EUR/CHF is retreating on Thursday after a 3-day rally when it rose from 1.0760 to 1.0903, hitting the highest level in a month. The euro was the worst performer among the most traded currencies.
The decline was triggered during Draghi’s press conference after the European Central Bank decided to leave rates unchanged. The central bank staff lowered inflation and growth projections and Draghi said that the ECB was ready to act if necessary. Regarding the purchase program he reiterated that it will last until the end of September 2016 or beyond, if necessary.
EUR/CHF again rejected from 1.0900
The pair attempted to rise above 1.0900 but again it failed to do so and started to pullback. The mentioned area has become the key resistance for the euro. After today’s reversal, EUR/CHF lost the bullish momentum and is correcting to the downside. The immediate support could be located at 1.0800/10; below then comes 1.0750.
The decline was triggered during Draghi’s press conference after the European Central Bank decided to leave rates unchanged. The central bank staff lowered inflation and growth projections and Draghi said that the ECB was ready to act if necessary. Regarding the purchase program he reiterated that it will last until the end of September 2016 or beyond, if necessary.
EUR/CHF again rejected from 1.0900
The pair attempted to rise above 1.0900 but again it failed to do so and started to pullback. The mentioned area has become the key resistance for the euro. After today’s reversal, EUR/CHF lost the bullish momentum and is correcting to the downside. The immediate support could be located at 1.0800/10; below then comes 1.0750.