17 Feb 2015
EUR/CHF in highs around 1.0670
FXStreet (Edinburgh) - The Swiss franc is now accelerating its drop vs. its European peer on Tuesday, lifting EUR/CHF to the highest level since the SNB move around 1.0670.
EUR/CHF supported at 1.0520
The cross is advancing more than a big-figure since today’s troughs around 1.0520/15, gaining ground along with the better performance from the single currency against a backdrop of renewed hopes on a Eurogroup-Greece debt deal. Ahead in the week, the Swiss ZEW Survey is due tomorrow, with consensus expecting a drop to -12.82.
In his speech in Brussels, SNB’s T.Jordan remarked that the franc is still ‘significantly overvalued’ and that the central bank will remain active in the FX markets.
EUR/CHF levels to consider
As of writing the cross is up 0.80% at 1.0661 facing the next resistance at 1.0700 and 1.0800 (psychological levels). On the other hand a breach of 1.0551 (low Feb.16) would expose 1.0489 (low Feb.12) and then 1.0441 (low Feb.11).
EUR/CHF supported at 1.0520
The cross is advancing more than a big-figure since today’s troughs around 1.0520/15, gaining ground along with the better performance from the single currency against a backdrop of renewed hopes on a Eurogroup-Greece debt deal. Ahead in the week, the Swiss ZEW Survey is due tomorrow, with consensus expecting a drop to -12.82.
In his speech in Brussels, SNB’s T.Jordan remarked that the franc is still ‘significantly overvalued’ and that the central bank will remain active in the FX markets.
EUR/CHF levels to consider
As of writing the cross is up 0.80% at 1.0661 facing the next resistance at 1.0700 and 1.0800 (psychological levels). On the other hand a breach of 1.0551 (low Feb.16) would expose 1.0489 (low Feb.12) and then 1.0441 (low Feb.11).