11 Aug 2015
EUR/CHF in fresh highs near 1.0870
FXStreet (Edinburgh) - The Swiss franc continues to depreciate vs. the single currency on Tuesday, lifting EUR/CHF to the area of 1.0870.
EUR/CHF in multi-month tops
The cross is trading in the highest level since the SNB has abandoned the peg in mid-January, advancing towards the upper-1.0800s following increasing outflows from the safe haven CHF.
The (kind of) solution in the Greek front following the agreement between the country and its creditors last month coupled with today’s pre-deal on a third bailout package has allayed fears amongst investors regarding a ‘Grexit’ scenario, favouring further positioning in the euro.
EUR/CHF relevant levels
As of writing the cross is up 0.24% at 1.0864 facing the next resistance at 1.09 and 1.10 (both psychological levels). On the flip side, a breach of 1.0760 (low Aug.10) would open the door to 1.0709 (low Aug.7) and finally 1.0676 (low Aug.6).
EUR/CHF in multi-month tops
The cross is trading in the highest level since the SNB has abandoned the peg in mid-January, advancing towards the upper-1.0800s following increasing outflows from the safe haven CHF.
The (kind of) solution in the Greek front following the agreement between the country and its creditors last month coupled with today’s pre-deal on a third bailout package has allayed fears amongst investors regarding a ‘Grexit’ scenario, favouring further positioning in the euro.
EUR/CHF relevant levels
As of writing the cross is up 0.24% at 1.0864 facing the next resistance at 1.09 and 1.10 (both psychological levels). On the flip side, a breach of 1.0760 (low Aug.10) would open the door to 1.0709 (low Aug.7) and finally 1.0676 (low Aug.6).