EUR/CHF soars amid a weak Swiss franc

EUR/CHF is rising sharply on Tuesday, boosted by a decline of the Swiss franc across the board amid speculations about an intervention from the Swiss National Bank (SNB). Greenback is rising against both, the euro and the Swissy but while it trades at 1-day highs versus the first, it is at 8-week highs against CHF.

EUR/CHF breaking relevant dynamic resistances

The pair jumped to the upside today as it rose from 1.0835 to 1.0905 reaching the highest level in a week. So far it  has been unable to hold above 1.0900 and it was trading at 1.0891/94, up 0.55% for the day (the best performance in two weeks).

The recent rally brought the price above a short-term downtrend line. If price remains around current levels, momentum could favor further the euro. To the upside, the relevant resistance area might be located at 1.0915 and then 1.0945 (July highs).