10 Mar 2015
EUR/CHF clinches highs above 1.0700
FXStreet (Edinburgh) - The Swiss franc is depreciating vs. its European peer on Tuesday, lifting EUR/CHF to session highs beyond 1.0710.
EUR/CHF deriving support from USD/CHF
The increasing bid tone around USD/CHF is also collaborating with the upside in EUR/CHF (via CHF selling) challenging weekly highs in the proximity of 1.0720. In the meantime, the US dollar remains poised to dictate the price action today along with headlines coming from Greece.
Data wise in Switzerland, the unemployment rate stayed put at 3.2% during February, matching estimates.
EUR/CHF key levels
At the moment the cross is up 0.01% at 1.0701 with the next resistance at 1.0760 (high Mar.3) ahead of 1.0800 (high Feb.25) and then 1.0811 (high Feb.20). On the downside, a break below 1.0630 (low Mar.4) would expose 1.0610 (low Feb.27) and finally 1.0554 (low Feb.16).
EUR/CHF deriving support from USD/CHF
The increasing bid tone around USD/CHF is also collaborating with the upside in EUR/CHF (via CHF selling) challenging weekly highs in the proximity of 1.0720. In the meantime, the US dollar remains poised to dictate the price action today along with headlines coming from Greece.
Data wise in Switzerland, the unemployment rate stayed put at 3.2% during February, matching estimates.
EUR/CHF key levels
At the moment the cross is up 0.01% at 1.0701 with the next resistance at 1.0760 (high Mar.3) ahead of 1.0800 (high Feb.25) and then 1.0811 (high Feb.20). On the downside, a break below 1.0630 (low Mar.4) would expose 1.0610 (low Feb.27) and finally 1.0554 (low Feb.16).