EUR/CHF at the highest since July 28

EUR/CHF is rising for the fifth time out of the last six days and hit the highest level in 12 days. The euro has been able to rise above 1.0900 and it could post today the strongest close in a month.

Earlier in the month EUR/CHF bottomed slightly below 1.0800 and since then it has been moving with an upside bias. If it continues to rise it would challenge a strong resistance area below 1.0950 (July highs). If it manages to break and consolidate on top, it would open the doors to more gains.

On the opposite direction, the current bullish bias holds a support at 1.0860/65, a dynamic resistance (20-day moving average and a short-term uptrend line).

Technical levels

To the upside resistance levels might be located at 1.0930 (100-day moving average), 1.0955 (Apr 1 high & Apr 29 low) and 1.1010/15 (May 13 low / June 24 high). On the flip side, support could be seen at 1.0905 (Aug 8 high), 1.0885 (daily low) and 1.0855/60 (Aug 3 high).