FXStreet (Mumbai) – The cross in the EUR/CHF continues to push higher and reaches fresh multi-month highs as the renewed strength in the EUR/USD pair offered fresh impetus.
EUR/CHF rises from 1.0939 lows
Currently, the EUR/CHF pair trades 0.25% to fresh three-month highs of 1.0973. The EUR/CHF cross finally broke its consolidation to the upside and witnessed a 30-pips rally to the session tops, as the EUR bulls picked up pace versus the US dollar on the back of sharp declines seen in the European equities.
On the other hand, the weakness seen in the Swiss franc against the greenback also contributes to the upside in the EUR/CHF cross. Looking ahead, the pair will continue to track the broad market sentiment and await fresh cues from the upcoming Euro group meeting.
EUR/CHF Technical Levels
To the upside, the next resistance is located 1.0991 (Oct High) levels and above which it could extend gains to 1.1029/61 (Sept High/ daily R2). To the downside, immediate support might be located at 1.0909 (5-DMA) and below that 1.0862/56 (20-DMA/ 100-DMA).
(Market News Provided by FXstreet)