EUR/CHF extends gains above 1.1000, eyes pos SNB highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - A weak Swiss franc across the board continues to push EUR/CHF to the upside. The pair reached levels on top of 1.1000 yesterday for the first time in months and today it rallied above, approaching 1-year highs.

    The rally goes on

    The area around 1.1000 did not stop so far EUR/CHF that continued to rise. During the American session, it broke above 1.1005/10 and jumped. Recently reached at 1.1043 a fresh 4-month high.

    Price remains near the highs and also close to September highs that lie at 1.1050. If it rises on top, the euro would be trading at the strongest level since the Swiss National Bank removed the 1.20 floor, back in January 2015.

    Up a hundred pips since Draghi

    Last Thursday, EUR/CHF was trading at 1.0920, moving in a range, at the time when Mario Draghi, ECB president mentioned that the central bank would reexamine the stance of monetary policy at the next meeting in March. Since then the pair rose during four consecutive days, accumulating gain of more than a hundred pips.
    For more information, read our latest forex news.

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