EUR/CHF Climbs to 2-Month Highs
A weak Swiss franc boosted the EUR/CHF
pair to the strongest level since mid-February. The pair broke above
1.1016 and rose to 1.1039. It was trading at 1.1030, headed toward the
highest daily close in two months.
The pair is breaking an
important resistance area located around 1.1010/20 and a consolidation
on top could open the door for further gains.
The euro and the
Swissy are falling today against the US dollar but the rally of USD/CHF
is more dramatic that the decline in EUR/USD. Versus the pound, the
Swiss franc is falling sharply, having the worst performance in two
weeks.
EUR/CHF technical levels
To the
upside, resistance levels might be seen at 1.1040 (daily high), 1.1060
(Feb 17 high) and 1.1095 (Feb 2 & 3 low). On the opposite direction,
support now could be located at 1.1015/20 (previous resistance / Apr 22
& May 3 high), 1.1099 (daily low) and 1.0950/55 (Apr 29 low / Mar
31 high).