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22 Jun 2015
EUR/CHF rises to fresh session high of 1.0472
FXStreet (Mumbai) - The shared currency is gaining ground against the safe haven CHF, taking the EUR/CHF pair to a fresh session high of 1.0472 levels.
EUR/CHF takes out hourly 100-MA resistance
During the move higher, the pair took out the hourly 100-MA resistance located at 1.0456. The common currency is being bought against the safe haven currency after the EU chief expressed confidence that a deal with Greece would be reached by this weekend.
Moreover, the EU chief’s statement helped weaken the bid tone on the Swiss Franc, leading to an unwinding of a safe haven CHF longs.
EUR/CHF Technical Levels
The immediate resistance is located at 1.0474 (hourly 200-MA), above which the pair could target 1.048. On the flip side, a break below 1.0464 could see the pair re-test its hourly 50-MA located at 1.0451.
EUR/CHF takes out hourly 100-MA resistance
During the move higher, the pair took out the hourly 100-MA resistance located at 1.0456. The common currency is being bought against the safe haven currency after the EU chief expressed confidence that a deal with Greece would be reached by this weekend.
Moreover, the EU chief’s statement helped weaken the bid tone on the Swiss Franc, leading to an unwinding of a safe haven CHF longs.
EUR/CHF Technical Levels
The immediate resistance is located at 1.0474 (hourly 200-MA), above which the pair could target 1.048. On the flip side, a break below 1.0464 could see the pair re-test its hourly 50-MA located at 1.0451.