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10 Apr 2015
EUR/CHF headed toward another weekly decline
FXStreet (Córdoba) - The euro continues to retreat against the Swiss Franc and is about to post the third weekly decline in a row and the fifth out of the last seven weeks. The EUR/CHF pair peaked on February at 1.0815, one month after the Swiss National Bank abandoned the peg, and since then it has been moving with a downside bias.
During the recent European session it dropped to 1.0370, reaching the lowest level since January 30. Afterwards rebounded and climbed to 1.0410 but now is back below 1.0400, trading at 1.0385, approaching daily lows.
EUR/CHF levels to watch
To the upside, resistance levels lie at 1.04.10 (American session high), 1.0425 (daily high) and 1.0450. On the opposite direction, support could be located at 1.0370 (daily low), 1.0350 and 1.0300.
During the recent European session it dropped to 1.0370, reaching the lowest level since January 30. Afterwards rebounded and climbed to 1.0410 but now is back below 1.0400, trading at 1.0385, approaching daily lows.
EUR/CHF levels to watch
To the upside, resistance levels lie at 1.04.10 (American session high), 1.0425 (daily high) and 1.0450. On the opposite direction, support could be located at 1.0370 (daily low), 1.0350 and 1.0300.