Source: ForexYard
The economic calendar is a bit light today with only Swiss PPI and euro zone industrial production. Swiss PPI will be under closer examination after last week’s contraction in Swiss CPI while euro zone data is likely to continue with the trend of poor data releases. Traders will be looking towards this week’s euro zone GDP data for additional economic weakness.
The EUR/CHF hasn’t been able to break from its range between 1.23-1.2475. Any CHF strength may run into support at 1.2270 where the 200-day and the 20-day moving averages coincide. CHF weakness could be spurred by additional comments by the SNB with threats to raise the floor beneath the EUR/CHF to 1.25 from 1.20.
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