29 Jan 2015
EUR/CHF climbs higher, 1.0300 in sight
FXStreet (Mumbai) - EUR/CHF advanced in the early European session as the pair finds good support around 1.0200 levels as technical buying seems to have emerged above these levels.
Inches towards day’s high
Currently, the EUR/CHF traded 0.51% higher at 1.0271, having posted fresh session highs at 1.0285 levels earlier in the day. The pair edged higher mainly driven by chart-driven buying as buyers seems to have flocked above 1.0200 levels. Moreover, the gains in the cross were also seen as the Euro climbed higher against the greenback as traders moved past the FOMC induced losses.
However, the upside remains capped as the pair faces stiff resistance at 1.0300 levels
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0300 levels and above which it could extend gains to 1.0320 levels. To the downside, immediate support might be located at 1.0200 levels and below that at 1.0184 levels.
Inches towards day’s high
Currently, the EUR/CHF traded 0.51% higher at 1.0271, having posted fresh session highs at 1.0285 levels earlier in the day. The pair edged higher mainly driven by chart-driven buying as buyers seems to have flocked above 1.0200 levels. Moreover, the gains in the cross were also seen as the Euro climbed higher against the greenback as traders moved past the FOMC induced losses.
However, the upside remains capped as the pair faces stiff resistance at 1.0300 levels
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0300 levels and above which it could extend gains to 1.0320 levels. To the downside, immediate support might be located at 1.0200 levels and below that at 1.0184 levels.