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EUR/CHF spikes to fresh 1-year highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/CHF spiked to fresh post-SNB highs as the euro strengthened across the board at the beginning of the New York session.

    EUR/CHF picked up pace and made a sudden move toward 1.1074, where it set its highest level since the SNR removed the 1.20 floor over a year ago, however the spike lacked follow-through and the pair pulled back. At time of writing, EUR/CHF is trading at 1.1055, a few pips above its opening price.

    EUR/CHF levels to watch


    As for technical levels, next resistance are seen at 1.1158 (20-month SMA), 1.1301 (100-week SMA) and 1.1749 (200-week SMA) en route to 1.2000 (former SNB floor). On the flip side, short-term supports could be found at 1.0983 (Jan 26 low), 1.0965 (10-day SMA), 1.0913/06 (20-day SMA/Jan 20 low) and 1.0873 (100-day SMA).
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