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22 Jun 2015
EUR/CHF upside stalled near 1.0470
FXStreet (Edinburgh) - The single currency is appreciating vs. the Swiss franc at the beginning of the week, pushing EUR/CHF to session tops near 1.0470.
EUR/CHF stronger on Greek optimism
Expectations of a deal between Greece and its EU peers have given extra support to the euro in detriment of the demand for the safe haven CHF on Monday. Positive comments from EU and Greek officials have opened the door to the possibility that the long-waited agreement could be finally clinched today, collaborating with the bid tone around EUR.
There are no scheduled releases in the Alpine economy this week, while manufacturing and services PMIs and the usual Greek debt talks will dictate the price action in the cross.
EUR/CHF levels to consider
At the moment the cross is advancing 0.29% at 1.0445 and a surpass of 1.0555 (high Jun.11) would aim for 1.0574 (high Jun.4) and finally 1.0591 (61.8% of 1.0811-1.0236). On the downside, the initial support aligns at 1.0404 (low Jun.17) followed by 1.0400 (low Jun.3) and then 1.0392 (daily cloud base).
EUR/CHF stronger on Greek optimism
Expectations of a deal between Greece and its EU peers have given extra support to the euro in detriment of the demand for the safe haven CHF on Monday. Positive comments from EU and Greek officials have opened the door to the possibility that the long-waited agreement could be finally clinched today, collaborating with the bid tone around EUR.
There are no scheduled releases in the Alpine economy this week, while manufacturing and services PMIs and the usual Greek debt talks will dictate the price action in the cross.
EUR/CHF levels to consider
At the moment the cross is advancing 0.29% at 1.0445 and a surpass of 1.0555 (high Jun.11) would aim for 1.0574 (high Jun.4) and finally 1.0591 (61.8% of 1.0811-1.0236). On the downside, the initial support aligns at 1.0404 (low Jun.17) followed by 1.0400 (low Jun.3) and then 1.0392 (daily cloud base).