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10 Feb 2015
EUR/CHF posts fresh session lows
FXStreet (Mumbai) - EUR/CHF edged higher in the late-Asian session, wiping out previous losses as traders remain on the edge ahead of the Europe open eyeing fresh cues on the Greece situation.
EUR/CHF faces rejection at 1.0481 levels
Currently, the EUR/CHF traded 0.10% higher at 1.0465, moving away from fresh session lows at 1.0455 levels posted few minutes ago. The cross continues to trade side-ways in a tight band as investors keep focusing on negotiations surrounding Greece's austerity program, after a rigorous anti-austerity speech by Greek PM Alexis Tsipras on Sunday fuelled concerns over the stability of the common currency area.
However, speculations over SNB intervention are likely to keep the EUR/CHF underpinned. Meanwhile, EUR/CHF extends its recovery mode after the revocation of a cap rate and a general intraday downtrend may persist as long as the cross trades below 1.0481 levels.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0481 levels and above which it could extend gains to 1.0533 levels. To the downside, immediate support might be located at 1.0448 levels and below that at 1.0400 levels.
EUR/CHF faces rejection at 1.0481 levels
Currently, the EUR/CHF traded 0.10% higher at 1.0465, moving away from fresh session lows at 1.0455 levels posted few minutes ago. The cross continues to trade side-ways in a tight band as investors keep focusing on negotiations surrounding Greece's austerity program, after a rigorous anti-austerity speech by Greek PM Alexis Tsipras on Sunday fuelled concerns over the stability of the common currency area.
However, speculations over SNB intervention are likely to keep the EUR/CHF underpinned. Meanwhile, EUR/CHF extends its recovery mode after the revocation of a cap rate and a general intraday downtrend may persist as long as the cross trades below 1.0481 levels.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0481 levels and above which it could extend gains to 1.0533 levels. To the downside, immediate support might be located at 1.0448 levels and below that at 1.0400 levels.