20 Jan 2015
EUR/CHF faces stiff resistance at 1.0230
FXStreet (Mumbai) - The common currency surrendered previous gains and edged lower versus the Swiss Franc as traders booked profit on their long positions after solid gains seen yesterday.
Currently, the USD/CHF slipped -0.62% to trade at 1.0145 levels, having posted day’s high at 1.0219 levels earlier in the day. The pair is likely to remain volatile on increased selling pressure after the Swiss franc strengthens versus most of its counterparts. A bout of profit book seems to be the obvious reason for the drop in EUR/CHF today.
The EUR/CHF may remain pressured as traders now await ZEW survey from the EMU.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 0.0230 levels and above which it could extend gains to 0.0300 levels. To the downside, immediate support might be located at 0.99 levels and below that at 0.974 levels.
Currently, the USD/CHF slipped -0.62% to trade at 1.0145 levels, having posted day’s high at 1.0219 levels earlier in the day. The pair is likely to remain volatile on increased selling pressure after the Swiss franc strengthens versus most of its counterparts. A bout of profit book seems to be the obvious reason for the drop in EUR/CHF today.
The EUR/CHF may remain pressured as traders now await ZEW survey from the EMU.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 0.0230 levels and above which it could extend gains to 0.0300 levels. To the downside, immediate support might be located at 0.99 levels and below that at 0.974 levels.