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EURCHF – 1.1400 in View?
The equity sell-off is clearly washing over into FX as all risk off trades gained ground. Amongst them is EURCHF which is now trading at the 1.1400 figure for the first time in weeks. The 700 point sell-off in the Dow has sent flows into the Swissie and if the risk-off trades continue into the Asia session trade they will likely push the pair towards the 1.1400 level.
Although stock may be due for a bounce, the ugly selloff one day before the weekend could create panic amongst investors and could push the risk-off trades even further into the money. With no support until 113.50 EURCHF still has a way to fall.