18 Feb 2015
EUR/CHF rises from 5-DMA
FXStreet (Mumbai) - The EUR/CHF pair is inching higher towards 1.07 levels after having bounced-off from the low of 5-DMA located at 1.0628 levels.
Franc overvalued - SNB President
The Swiss Franc is extending losses seen in the previous session after the Swiss National Bank (SNB) President Jordan said that the central bank stands prepared to intervene in the foreign exchange market to combat the “overvalued” Swiss Franc. The increased prospects of central bank intervention have weakened the Swiss Franc. However, gains in the EUR/CHF could be capped on account of Greece led uncertainty.
EUR/CHF Technical Levels
The pair currently trades at 1.0687. The immediate resistance is seen at 1.0731, above which gains could be extended to 1.0831 levels. On the flip side, support is seen at 1.0631 (5-DMA) and 1.0567 (10-DMA).
Franc overvalued - SNB President
The Swiss Franc is extending losses seen in the previous session after the Swiss National Bank (SNB) President Jordan said that the central bank stands prepared to intervene in the foreign exchange market to combat the “overvalued” Swiss Franc. The increased prospects of central bank intervention have weakened the Swiss Franc. However, gains in the EUR/CHF could be capped on account of Greece led uncertainty.
EUR/CHF Technical Levels
The pair currently trades at 1.0687. The immediate resistance is seen at 1.0731, above which gains could be extended to 1.0831 levels. On the flip side, support is seen at 1.0631 (5-DMA) and 1.0567 (10-DMA).