23 Jul 2015
EUR/CHF at 3-week highs, above 1.0500
FXStreet (Córdoba) - The euro is rising for the fourth day in a row against the Swiss franc and during the American session printed a fresh 3-week high. EUR/CHF gained momentum after rising above 1.0500 and climbed to 1.0534, reaching the strongest level in almost a month.
The pair is rising on the back of stronger euro that is the best performer among European currencies as the Greek crisis eases.
EUR/CHF with more resistance ahead
Currently the pair is trading at 1.0530, more than a hundred pips above the level it had a week ago. It has approached an important short-term resistance area located around 1.0550/70. The mentioned level has offered resistance in the previous four months. A consolidation on top, could signal a continuation of the rally.
On the opposite direction, if EUR/CHF fails at 1.0550/70 it could start a bearish correction with support seen at 1.0430 (uptrend line) and 1.0390.
The pair is rising on the back of stronger euro that is the best performer among European currencies as the Greek crisis eases.
EUR/CHF with more resistance ahead
Currently the pair is trading at 1.0530, more than a hundred pips above the level it had a week ago. It has approached an important short-term resistance area located around 1.0550/70. The mentioned level has offered resistance in the previous four months. A consolidation on top, could signal a continuation of the rally.
On the opposite direction, if EUR/CHF fails at 1.0550/70 it could start a bearish correction with support seen at 1.0430 (uptrend line) and 1.0390.