EUR/CHF consolidates near 3-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The euro is rising of the second day in a row against the Swiss franc but still remains below January highs. EUR/CHF peaked today at 1.0962 and then pulled back modestly. It was trading at 1.0950/55, up 20 pips from Friday’s closing price.

    Last week the pair reached at 1.0980 the strongest level since September and then retreated. The area around 1.0900 capped the decline and from there it rebounded.

    Levels to watch

    EUR/CHF holds a bullish tone with the price holding steady above key daily moving averages. To the upside, a relevant resistance is seen around 1.0980; the pair traded above that level during September of last year but it failed to post a daily close on top. A break above 1.0980 - 1.1000 could open the doors for a rally in the medium term.

    On the opposite direction, the immediate relevant support lies at 1.0900/05 (Jan 14 & 15 low), followed by 1.0860 (20-day MA) and 1.0825 (Jan 06 low).
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