- EUR/CHF entered a consolidation phase after briefly rising above the 1.0500 mark to hit its highest level since the SNB removed the 1.2000 floor 2 weeks ago.
EUR/CHF reached its highest level since Jan 15 at 1.0522, amid chatter the SBN has been intervening in the market to weaken the franc. However, the euro failed to hold above the psychological level and entered a sideways phase just below.
EUR/CHF technical levels
At time of writing, EUR/CHF is trading at 1.0470, still up 0.22% on the day, with immediate resistances seen at 1.0522 (daily high) and 1.0600 (psychological level). On the flip side, supports are seen at 1.0408 (daily low) and 1.0385 (Jan 27 high).
EUR/CHF reached its highest level since Jan 15 at 1.0522, amid chatter the SBN has been intervening in the market to weaken the franc. However, the euro failed to hold above the psychological level and entered a sideways phase just below.
EUR/CHF technical levels
At time of writing, EUR/CHF is trading at 1.0470, still up 0.22% on the day, with immediate resistances seen at 1.0522 (daily high) and 1.0600 (psychological level). On the flip side, supports are seen at 1.0408 (daily low) and 1.0385 (Jan 27 high).
