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EUR/CHF finds support at yesterday’s lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/CHF is falling for fifth day in a row on Wednesday after the upside was capped by the 1.1200 area last week.

    Amid broad euro strength, EUR/CHF reached its highest level since the SNB removed the floor 13 months ago at 1.119, but it was rejected from there and has lost nearly 250 pips over the last days. However, the pair seems to have found support at the 1.0955 zone and was confined to a narrow range over the last hours.

    EUR/CHF levels to watch

    At time of writing, EUR/CHF is trading at 1.0960, 0.18% below its opening price. On the downside, a break below 1.0955 could pave the way toward 1.0906 (Jan 20 low) and 1.0884 (100-day SMA). On the flip side, resistances could be faced at 1.0997 (Feb 10 high), 1.1018 (20-day SMA) and 1.1070 (10-day SMA).
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