9 Jul 2015
EUR/CHF off highs, around 1.0480
FXStreet (Edinburgh) - The Swiss franc is now recovering some ground vs. the euro on Thursday, with EUR/CHF retreating to 1.0480.
EUR/CHF capped by 1.0500/20
After hitting multi-day peaks around 1.0520 on Wednesday, the cross has now faded part of that spike although manages to keep the trade in he upper bound of the weekly range.
Rumours that the SNB has been intervening in the FX markets in order to weaken the franc have been cited as the main drivers behind the recent upside. Recall that the ongoing uncertainty around Greece has prompted strong inflows to safe haven currencies as of late, and the SNB deems any further CHF appreciation as unwelcomed.
EUR/CHF key levels
The cross is now up 0.19% at 1.0492 facing the next hurdle at 1.0524 (high Jul.2) and finally 1.0546 (high Jun.26). On the other hand, a break below 1.0366 (low Jul.7) ahead of 1.0322 (low Jun.30) and then 1.0280 (low May 29).
EUR/CHF capped by 1.0500/20
After hitting multi-day peaks around 1.0520 on Wednesday, the cross has now faded part of that spike although manages to keep the trade in he upper bound of the weekly range.
Rumours that the SNB has been intervening in the FX markets in order to weaken the franc have been cited as the main drivers behind the recent upside. Recall that the ongoing uncertainty around Greece has prompted strong inflows to safe haven currencies as of late, and the SNB deems any further CHF appreciation as unwelcomed.
EUR/CHF key levels
The cross is now up 0.19% at 1.0492 facing the next hurdle at 1.0524 (high Jul.2) and finally 1.0546 (high Jun.26). On the other hand, a break below 1.0366 (low Jul.7) ahead of 1.0322 (low Jun.30) and then 1.0280 (low May 29).