19 Feb 2015
EUR/CHF holds above 38.2% Fib level
FXStreet (Mumbai) - The EUR/CHF pair eased from the daily high of 1.0794, although it continues to trade above the 38.25 Fib expansion level (0.9782-1.0636 & 1.0407) located at 1.0734.
Rumors of SNB intervention caps gains in Swiss Franc
The CHF turned lower earlier today after rumors of SNB intervention started doing the round. The EUR/CHF pair hit a high of 1.0794 before the renewed concerns of Greece’s debt deal weakened the shared currency. Moreover, the EUR weakened after the German government rejected Greece’s loan extension appeal. However, the rumors of SNB intervention ensured the EUR remained in the positive territory against the CHF. The EUR/CHF pair currently trades 0.29% higher at 1.0769 levels.
EUR/CHF Technical Levels
The immediate resistance is seen at 1.0830 (50% Fib expansion level), above which gains could be extended to 1.0932 (61.8% Fib expansion level). On the flip side, a break below 1.0734 could push the pair down to the 5-DMA located at 1.0670.
Rumors of SNB intervention caps gains in Swiss Franc
The CHF turned lower earlier today after rumors of SNB intervention started doing the round. The EUR/CHF pair hit a high of 1.0794 before the renewed concerns of Greece’s debt deal weakened the shared currency. Moreover, the EUR weakened after the German government rejected Greece’s loan extension appeal. However, the rumors of SNB intervention ensured the EUR remained in the positive territory against the CHF. The EUR/CHF pair currently trades 0.29% higher at 1.0769 levels.
EUR/CHF Technical Levels
The immediate resistance is seen at 1.0830 (50% Fib expansion level), above which gains could be extended to 1.0932 (61.8% Fib expansion level). On the flip side, a break below 1.0734 could push the pair down to the 5-DMA located at 1.0670.