EUR/CHF flirting with highs near 1.0940

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Swiss franc continues to depreciate vs. its European peer on Friday, taking EUR/CHF to the area of session tops near 1.0940.

    EUR/CHF up on risk-appetite

    The demand for the safe haven CHF remains subdued during the second half of the week, collaborating with the upside in the cross and trading closer to the psychological handle at 1.1000 the figure.

    Comments by ECB officials that further easing by the central bank remains unlikely for the time being have given extra legs to EUR on Thursday, sustaining the ongoing upside momentum.

    EUR/CHF relevant levels

    As of writing the cross is gaining 0.10% at 1.0933 facing the next resistance at 1.0992 (high Jan.14) followed by 1.1022 (high Sep.13) and finally 1.1058 (high Sep.10). On the other hand, a breakdown of 1.0860 (20-day sma) would open the door to 1.0726 (low Nov.5) and then 1.0688 (200-day sma).
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