EUR/CHF struggling around 1.1000, at 4-month 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) - The euro climbed briefly above the 1.1000 level against the franc and scored its highest in over four months as the Swiss currency weakened over the last hours.

    EUR/CHF rose to a peak of 1.1006, last seen September 14, but failed to hold above the 1.10 mark and retreated slightly. The pair was last trading at 1.0999, recording a 0.13% gain on Tuesday.

    EUR/CHF has closed the last trading days with gains, despite last week ECB Draghi hinted at further easing ahead.

    EUR/CHF levels to watch

    In terms of technical levels, if EUR/CHF breaks decisively above the 1.1000/10 area (psychological level/Jan 26, Sep 14 highs), next resistances could be found at 1.1049 (Sep 11 high). Above this latter, the pair will be trading at its highest since the SNB removed the EUR/CHF peg a year ago.

    On the flip side, short-term supports are seen at 1.0949 (10-day SMA), 1.0906/1.0899 (Jan 20 low/20-day SMA) and 1.0870 (100-day SMA).
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