20 Feb 2015
EUR/CHF erases gains amid Greece
FXStreet (Córdoba) - EUR/CHF erased gains during the last few hours as EUR/USD dropped toward 1.1300. The pair reached a fresh daily low at 1.0763 and currently trades near the lows as less than 30 pips below yesterday’s closing price.
Earlier the euro climbed to 1.0810, the strongest level since January 15 but then bounced to the downside amid a new meeting between the Eurogroup and Greek official, looking for some agreement. The Eurogroup president said that the meeting was postponed by 90 minutes to 15:30 GMT. Economic data from the Eurozone showed signs of recovery but some PMI’s were below expectations. The euro failed to rise after the economic report.
EUR/CHF levels to watch
To the upside resistance lies at 1.0800, 1.0810/15 (daily high), 1.0835 and 1.0870. On the opposite direction support might lie at 1.0725/30 (Feb 19 low), 1.0700 and 1.0645 (Feb 05, 16 high).
Earlier the euro climbed to 1.0810, the strongest level since January 15 but then bounced to the downside amid a new meeting between the Eurogroup and Greek official, looking for some agreement. The Eurogroup president said that the meeting was postponed by 90 minutes to 15:30 GMT. Economic data from the Eurozone showed signs of recovery but some PMI’s were below expectations. The euro failed to rise after the economic report.
EUR/CHF levels to watch
To the upside resistance lies at 1.0800, 1.0810/15 (daily high), 1.0835 and 1.0870. On the opposite direction support might lie at 1.0725/30 (Feb 19 low), 1.0700 and 1.0645 (Feb 05, 16 high).