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2 Sep 2015
EUR/CHF in highs near 1.0880
FXStreet (Edinburgh) - The Swiss franc remains on the defensive side vs. the euro on Wednesday, pushing EUR/CHF to session peaks near 1.0880.
EUR/CHF attention to the ECB meeting
The upside bias in the cross is gathering further traction today fuelled by increasing CHF selling against the greenback. The cross is thus advancing for the third consecutive session today and challenging last week’s peaks ahead of multi-month tops near 1.0970 posted in early August.
The next risk event for the single currency will be the ECB monetary policy meeting due tomorrow, with market consensus expecting a dovish tone from the Governing Council.
EUR/CHF levels to consider
At the moment the cross is gaining 0.13% at 1.0863 with the next resistance at 1 1.0871 (high Aug.27) ahead of 1.0891 (high Aug.14) and finally 1.0928 (high Aug.11). On the flip side, a breakdown of 1.0784 (low Aug.31) would aim for 1.0733 (low Aug.28) and then 1.0712 (low Aug.20).
EUR/CHF attention to the ECB meeting
The upside bias in the cross is gathering further traction today fuelled by increasing CHF selling against the greenback. The cross is thus advancing for the third consecutive session today and challenging last week’s peaks ahead of multi-month tops near 1.0970 posted in early August.
The next risk event for the single currency will be the ECB monetary policy meeting due tomorrow, with market consensus expecting a dovish tone from the Governing Council.
EUR/CHF levels to consider
At the moment the cross is gaining 0.13% at 1.0863 with the next resistance at 1 1.0871 (high Aug.27) ahead of 1.0891 (high Aug.14) and finally 1.0928 (high Aug.11). On the flip side, a breakdown of 1.0784 (low Aug.31) would aim for 1.0733 (low Aug.28) and then 1.0712 (low Aug.20).