EUR/CHF around 1.0950 on EMU data, SNB

EUR/CHF is holding on to its daily gains around the 1.0950 area following EMU’s data and the SNB meeting.

EUR/CHF upside capped around 1.10

The cross keep its weekly upside intact today, advancing for the third session in a row although the upside appears somewhat limited near the psychological 1.1000 handle.

The cross has remained apathetic after EMU’s inflation figures for the month of August have matched preliminary readings, showing headline CPI rising at an annualized 0.2% and Core prices up 0.8% over the last twelve months.

Earlier in the European morning, the SNB left its monetary stance unchanged at its meeting, broadly in line with market expectations. President T.Jordan has nonetheless reiterated the Franc remains ‘significantly overvalued’ while the central bank remains ready to intervene in the FX markets as needed. Nothing new here.

EUR/CHF significant levels

As of writing the cross is gaining 0.05% at 1.0957 and a surpass of 1.1009 (high Sep.1) would expose 1.1027 (post-Brexit high Jun.24) and then 1.1054 (top of the descending channel off 2016 high). On the other hand, the immediate support is located at 1.0889 (55-day sma) ahead of 1.0879 (low Sep.7) and finally 1.0819 (low Aug.19).