EUR/CHF
Credit Agricole Euro-Franc Forecast: 0.90 Key EUR/CHF Support
The Euro to Swiss Franc exchange rate held close to 0.9033 on Wednesday, remaining near multi-year lows after the pair briefly slipped below the 0.90 level earlier this week. The move marked the first break under 0.90 since the turbulent period following the Swiss National Bank's removal of the EUR/CHF floor in 2015.
Chart Alert: Risk-off Persists on Strait of Hormuz Fears, EUR/CHF Eyeing 0.9010 Key Bearish Breakdown Level
Risk-off sentiment continues to prevail in today's Asia session, despite US President Trump's assurance to provide naval escorts for oil tankers through the Strait of Hormuz, a key global oil flow chokepoint, and the US International Development Finance Corporation's offer to provide insurance guarantees for energy transportation vessels.
Chart alert: Risk-off persists on Strait of Hormuz fears, EUR/CHF eyeing 0.9010 key bearish down level
Risk-off sentiment dominates as fears of a Strait of Hormuz closure intensify despite US naval escort assurances. Oil trades near $76, gold advances, and Asian equities slide sharply.
EUR/CHF Mid-Day Outlook
Intraday bias in EUR/CHF is turned neutral first with current rebound. Price actions from 0.9026 are viewed as a near term consolidation pattern only.
