Morning Insights 21st September

Simon Alagbe

Analyst


Instrument: EURCHF

The pair broke got rejected around the 1.09314 resistance zone before breaking through two previous support zones around the 1.09052 and the 1.08708 levels and is expected to surge southward to the 1.08370 support levels where price has been rejected on 3 occasions in the last one month. I expect the SNB policy meeting scheduled for Thursday to be quiet as I expect the Bank to keep policy measures unchanged. The inflation outlook in Switzerland remains subdued and growth numbers have been weaker than expected and make the work of the National Bank this week easier.


Technicals: 

The bearish pressure on the pair will push it to retest the 1.08370 support level where a movement back to the upside with take profit at 1.08700 and stop-loss at 1.08195.  


Fundamentals 

No major economic data with a bearing on the pair.

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