20 Feb 2015
EUR/CHF testing highs beyond 1.08
FXStreet (Edinburgh) - The Swiss franc continues to depreciate vs. its European peer on Friday, sending EUR/CHF to levels above 1.08 the figure.
EUR/CHF boosted by SNB intervention
The cross is trading in the highest levels since the SNB removed the cap in January, currently extending the breakout of the congestion pattern around 1.05-1.06. Market chatter continues to support the idea that the SNB is intervening once again in the markets and sustaining the current upside.
Data wise, the flash PMIs in the euro area will be the main releases although headlines from Greece will surely have more impact on sentiment.
EUR/CHF levels to watch
As of writing the cross is up 0.04% at 1.0797 with the next hurdle at 1.0810 (high Feb.20) ahead of the psychological levels at 1.0900 and 1.1000. On the downside, a break below 1.0731 (low Feb.19) would expose 1.0663 (low Feb.18) and finally 1.0574 (low Feb.17).
EUR/CHF boosted by SNB intervention
The cross is trading in the highest levels since the SNB removed the cap in January, currently extending the breakout of the congestion pattern around 1.05-1.06. Market chatter continues to support the idea that the SNB is intervening once again in the markets and sustaining the current upside.
Data wise, the flash PMIs in the euro area will be the main releases although headlines from Greece will surely have more impact on sentiment.
EUR/CHF levels to watch
As of writing the cross is up 0.04% at 1.0797 with the next hurdle at 1.0810 (high Feb.20) ahead of the psychological levels at 1.0900 and 1.1000. On the downside, a break below 1.0731 (low Feb.19) would expose 1.0663 (low Feb.18) and finally 1.0574 (low Feb.17).