FXStreet (Edinburgh) – The Swiss franc is rapidly depreciating vs. the single currency at the end of the week, lifting EUR/CHF to fresh tops beyond 1.0900 the figure.
EUR/CHF in 4-week tops
The cross is challenging multi-week highs in the vicinity of 1.0930 today, following the increasing selling pressure surrounding the Swiss currency, which is also pushing USD/CHF to daily tops.
Nothing worth mentioning data wise in Switzerland, and with US markets opening half day today, the performance of cross will depend on the risk trends and USD dynamics.
EUR/CHF levels to consider
At the moment the cross is up 0.52% at 1.0916 and a surpass of 1.0930 (high Oct.30) would aim for 1.0986 (high Oct.2) and then 1.1049 (high Sep.11). On the other hand, the next support lines up at 1.0807 (100-day sma) followed by 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049).
(Market News Provided by FXstreet)