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11 Sep 2015
EUR/CHF hits fresh 8-month highs near 1.1020
FXStreet (Mumbai) - The cross in the EUR/CHF extends its upbeat momentum for the second straight session on Friday, mainly driven by broad CHF weakness amid a data-quiet EUR calendar.
EUR/CHF: 1.1000 on sight
The EUR/CHF pair trades 0.35% higher at fresh multi-month highs of 1.1017, the highest levels since SNB peg removal. The EUR/CHF pair keeps pushing higher as investors were ditched the negatively yielding Swiss franc and preferred the higher yielding currencies such as the euro.
Meanwhile, the cross may head higher in the days ahead for the test of 1.10 – psychological levels where the bulls may find resistance and some consolidation at higher levels is likely.
EUR/CHF Technical Levels
The pair has an immediate resistance at 1.1050 above which gains could be extended to 1.1100 levels. On the flip side, support is seen at 1.0911 (Sept 10 Low) below which it could extend losses to 1.0870 (Sept 9 Low) levels.
EUR/CHF: 1.1000 on sight
The EUR/CHF pair trades 0.35% higher at fresh multi-month highs of 1.1017, the highest levels since SNB peg removal. The EUR/CHF pair keeps pushing higher as investors were ditched the negatively yielding Swiss franc and preferred the higher yielding currencies such as the euro.
Meanwhile, the cross may head higher in the days ahead for the test of 1.10 – psychological levels where the bulls may find resistance and some consolidation at higher levels is likely.
EUR/CHF Technical Levels
The pair has an immediate resistance at 1.1050 above which gains could be extended to 1.1100 levels. On the flip side, support is seen at 1.0911 (Sept 10 Low) below which it could extend losses to 1.0870 (Sept 9 Low) levels.