Investing.com – The euro was down against the Swiss franc on Tuesday, falling to hit a fresh 2-day low, after downbeat euro zone data added to lingering fears over the strength of the region’s economic recovery.
EUR/CHF hit 1.2872 during European afternoon trade, the pair’s lowest since September 10; the pair subsequently consolidated at 1.2887, shedding 0.69%.
The pair was likely to find support at 1.2765, the low of September 8 and the all-time low, and resistance at 1.3037, Monday’s high.
Earlier in the day, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to -4.3 in September, after rising to 14 in August.
Analysts had expected the index to decline to 10.7 in September.
On the index a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
The euro was also down against the U.S. dollar, with EUR/USD shedding 0.01% to hit 1.2880.
Earlier in the day, official data showed that industrial production in the euro zone was flat in July, after falling by a revised 0.2% in June.
EUR/CHF hit 1.2872 during European afternoon trade, the pair’s lowest since September 10; the pair subsequently consolidated at 1.2887, shedding 0.69%.
The pair was likely to find support at 1.2765, the low of September 8 and the all-time low, and resistance at 1.3037, Monday’s high.
Earlier in the day, the ZEW Centre for Economic Research said that its index of German economic sentiment fell to -4.3 in September, after rising to 14 in August.
Analysts had expected the index to decline to 10.7 in September.
On the index a level above 0.0 indicates optimism; a level below 0.0 indicates pessimism.
The euro was also down against the U.S. dollar, with EUR/USD shedding 0.01% to hit 1.2880.
Earlier in the day, official data showed that industrial production in the euro zone was flat in July, after falling by a revised 0.2% in June.