6 Aug 2015
EUR/CHF headed toward highest close in 5 months
FXStreet (Córdoba) - EUR/CHF is rising for the fifth trading day in a row amid. Today it broke above July highs and also on top of the 1.0700 handle.
EUR/CHF: More upside ahead?
The pair peaked at 1.0722, reaching the strongest level since early March. Currently it trades at 1.0710/15, consolidating above important support levels, signaling that the rally could continue.
To the upside, the next medium term resistance level could be located at 1.0765 (March highs) and 1.0820 (highest since Jan 15). On the opposite direction 1.0650/70 is the key short-term support: if the pair drops below the Euro would lose momentum and it would expose the next support located at 1.0550.
CHF weak, EUR holds
The Swiss franc is losing ground across the board while the euro continues to show resilience amid some improvement in economic data in the Eurozone, higher-than-expected inflation and some positive expectations about an agreement between Greece and its creditors.
Also some analysts speculate that the Swiss National Bank could be behind the decline of the Swiss franc. Back in January 15, the central bank abandoned the EUR/CHF 1.20 floor.
EUR/CHF: More upside ahead?
The pair peaked at 1.0722, reaching the strongest level since early March. Currently it trades at 1.0710/15, consolidating above important support levels, signaling that the rally could continue.
To the upside, the next medium term resistance level could be located at 1.0765 (March highs) and 1.0820 (highest since Jan 15). On the opposite direction 1.0650/70 is the key short-term support: if the pair drops below the Euro would lose momentum and it would expose the next support located at 1.0550.
CHF weak, EUR holds
The Swiss franc is losing ground across the board while the euro continues to show resilience amid some improvement in economic data in the Eurozone, higher-than-expected inflation and some positive expectations about an agreement between Greece and its creditors.
Also some analysts speculate that the Swiss National Bank could be behind the decline of the Swiss franc. Back in January 15, the central bank abandoned the EUR/CHF 1.20 floor.