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9 Feb 2015
EUR/CHF cautious near lows, Greece in focus
FXStreet (Mumbai) - EUR/CHF holds mild gains in the mid-European session, amid rumours that the SNB might be buying Euros against the franc as EUR/USD stands resilient despite worsening Greece situation.
Euro gains across the board
Currently, the EUR/CHF traded almost flat at 1.0483 levels, having previously posted fresh day’s low at 1.0467 levels. The cross is displaying some strange behaviour as choppy trading and vertical spikes have been observed. Markets are speculating whether this is central bank intervention, or some other undisclosed factor as situation gets complicated in Greece with the country likely to accept ECB’s bailout terms or will be forced to exit the currency union.
Meanwhile, EUR/CHF extends its recovery mode after the revocation of a cap rate and awaits fresh direction as it has formed a small doji on the daily charts.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0533 levels and above which it could extend gains to 1.0604 levels. To the downside, immediate support might be located at 1.0448 levels and below that at 1.0400 levels.
Euro gains across the board
Currently, the EUR/CHF traded almost flat at 1.0483 levels, having previously posted fresh day’s low at 1.0467 levels. The cross is displaying some strange behaviour as choppy trading and vertical spikes have been observed. Markets are speculating whether this is central bank intervention, or some other undisclosed factor as situation gets complicated in Greece with the country likely to accept ECB’s bailout terms or will be forced to exit the currency union.
Meanwhile, EUR/CHF extends its recovery mode after the revocation of a cap rate and awaits fresh direction as it has formed a small doji on the daily charts.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0533 levels and above which it could extend gains to 1.0604 levels. To the downside, immediate support might be located at 1.0448 levels and below that at 1.0400 levels.