EUR/CHF bounces off lows, back near 1.0850

After dropping to fresh lows near 1.0830, EUR/CHF has now picked up pace and retaken the mid-1.0800s.

EUR/CHF up smalls after Swiss data

The cross is up marginally on Wednesday following two consecutive pullbacks including yesterday’s lows in the 1.0830 area, after Swiss ZEW Expectations dropped to -2.8 in August from July’s 5.9.

On the broader picture, the cross keeps the rangebound trading between 1.0800 and 1.0950 since July, all part of the descending channel off 2016 tops recorded in February.

Nothing further scheduled in the euro area or the Alpine economy, leaving the bulk of attention to the FOMC minutes, expected later in the European evening.

EUR/CHF significant levels

As of writing the cross is gaining 0.08% at 1.0846 and a surpass of 1.0923 (200-day sma) would expose 1.1027 (post-Brexit high Jun.24) and then 1.1073 (top of the descending channel off 2016 high). On the other hand, the immediate support is located at 1.0828 (low Aug.16) ahead of 1.0781 (low Jul.29) and finally 1.0610 (post-Brexit low Jun.24).