7 May 2015
EUR/CHF rebounds at 1.0300
FXStreet (Córdoba) - EUR/CHF dropped sharply during the European session but then bounced to the upside, erasing daily losses. Currently is trading at 1.0375/80, slightly below yesterday's closing price.
Earlier the pair dropped to 1.0301, hitting the lowest level since April 22. A rally of the Swiss franc across the board pushed the pair to the downside, before bouncing. Information about exchange reserves from the Swiss National Bank (SNB) signaled that the central bank did not intervened in the currency market on April to curb franc strength. The amount of reserves declined for the first time for 2015.
From the lows, EUR/CHF climbed more than 50 pips. Also USD/CHF reversed and rose from 3-month lows at 0.9070 back above 0.9200 in a few hours.
EUR/CHF technical levels
Resistance levels could be located at 1.0380 (aSian session low), 1.0400/05 (daily highs) and 1.0425 (May 6 high). On the opposite direction support might lie at 1.0345 (May 5 low), 1.0300 and 1.0275 (April 21 high).
Earlier the pair dropped to 1.0301, hitting the lowest level since April 22. A rally of the Swiss franc across the board pushed the pair to the downside, before bouncing. Information about exchange reserves from the Swiss National Bank (SNB) signaled that the central bank did not intervened in the currency market on April to curb franc strength. The amount of reserves declined for the first time for 2015.
From the lows, EUR/CHF climbed more than 50 pips. Also USD/CHF reversed and rose from 3-month lows at 0.9070 back above 0.9200 in a few hours.
EUR/CHF technical levels
Resistance levels could be located at 1.0380 (aSian session low), 1.0400/05 (daily highs) and 1.0425 (May 6 high). On the opposite direction support might lie at 1.0345 (May 5 low), 1.0300 and 1.0275 (April 21 high).