EUR/CHF Climbs to 2-Month Highs

EUR/CHF Climbs to 2-Month Highs

5 May 2016, 17:56
Roberto Jacobs
0
17

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).


fxs_logo_news.png

Share it with friends: