Back
10 Feb 2016
EUR/CHF finds support at yesterday’s lows
EUR/CHF is falling for fifth day in a row on Wednesday after the upside was capped by the 1.1200 area last week.
Amid broad euro strength, EUR/CHF reached its highest level since the SNB removed the floor 13 months ago at 1.119, but it was rejected from there and has lost nearly 250 pips over the last days. However, the pair seems to have found support at the 1.0955 zone and was confined to a narrow range over the last hours.
EUR/CHF levels to watch
At time of writing, EUR/CHF is trading at 1.0960, 0.18% below its opening price. On the downside, a break below 1.0955 could pave the way toward 1.0906 (Jan 20 low) and 1.0884 (100-day SMA). On the flip side, resistances could be faced at 1.0997 (Feb 10 high), 1.1018 (20-day SMA) and 1.1070 (10-day SMA).
Amid broad euro strength, EUR/CHF reached its highest level since the SNB removed the floor 13 months ago at 1.119, but it was rejected from there and has lost nearly 250 pips over the last days. However, the pair seems to have found support at the 1.0955 zone and was confined to a narrow range over the last hours.
EUR/CHF levels to watch
At time of writing, EUR/CHF is trading at 1.0960, 0.18% below its opening price. On the downside, a break below 1.0955 could pave the way toward 1.0906 (Jan 20 low) and 1.0884 (100-day SMA). On the flip side, resistances could be faced at 1.0997 (Feb 10 high), 1.1018 (20-day SMA) and 1.1070 (10-day SMA).