FXStreet (Edinburgh) – The recovery in the single currency continues to lift EUR/CHF higher on Monday, now testing the upper bound of the range at 1.0450/60.
EUR/CHC rebounds from 1.0350
In line with the rest of the markets, the cross has started the week deeply in the red territory in response to the results from the Greek referendum, with an unexpectedly strong victory of the ‘No’ vote. However, and as happened a week ago, the subsequent buying interest around the euro has managed to leave behind the initial softness and is now driving the cross to session tops.
In the data space, Swiss consumer prices rose 0.2% inter-month in June and contracted 1.0% over the last twelve months. In the euro area, the Sentix index bettered to 18.5 for the month of July.
EUR/CHF levels to watch
At the moment the cross is up 0.01% at 1.0451 with the next resistance at 1.0471 (high Jul.3) ahead of 1.0493 (high Jul.1) and finally 1.0524 (high Ju.2). On the flip side, a drop below 1.0356 (low Jul.6) would aim for 1.0322 (low Jun.29) and then 1.0312 (low Jun.3).
(Market News Provided by FXstreet)