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16 Mar 2015
EUR/CHF back below 1.0600
FXStreet (Mumbai) - EUR/CHF rebounded from four-week lows and hovers near 1.06 handle in the early European morning, largely as the shared currency staged a strong comeback against the US dollar.
EUR/CHF retreats from fresh highs
Currently, the EUR/CHF surged by 0.40% at 1.0594 levels, retreating from fresh session highs posted at 1.0608 levels. The pair rallied mainly driven by a solid recovery in the shared currency versus its US counterpart after tumbling to fresh twelve year lows below 1.05 handle.
EUR/CHF moved away from fresh four-week lows reached at 1.0507 levels in the previous session and remains elevated ahead of European Central Bank (ECB) President Mario Draghi’s speech on the Future of the Finance Industry in Frankfurt today and this could cause some volatility for the single currency.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0640 levels and above which it could extend gains to 1.0676 levels. To the downside, immediate support might be located at 1.0540 levels and below that at 1.0507 levels.
EUR/CHF retreats from fresh highs
Currently, the EUR/CHF surged by 0.40% at 1.0594 levels, retreating from fresh session highs posted at 1.0608 levels. The pair rallied mainly driven by a solid recovery in the shared currency versus its US counterpart after tumbling to fresh twelve year lows below 1.05 handle.
EUR/CHF moved away from fresh four-week lows reached at 1.0507 levels in the previous session and remains elevated ahead of European Central Bank (ECB) President Mario Draghi’s speech on the Future of the Finance Industry in Frankfurt today and this could cause some volatility for the single currency.
EUR/CHF Technical Levels
To the upside, the next resistance is located at 1.0640 levels and above which it could extend gains to 1.0676 levels. To the downside, immediate support might be located at 1.0540 levels and below that at 1.0507 levels.