EUR/CHF chart - Trading View
- EUR/CHF has breached key support at 1.1183 on Thursday's trade and has closed at 1.1173.
- The Swiss National Bank (SNB) at its monetary policy meeting earlier this month reiterated that the franc is "highly valued".
- Breach at key technical support at 1.1183 has now raised the possibility for intervention by SNB to curb further appreciation in the franc.
- German bunds slid deeper into the negative territory, also aiding in downside.
- Technical studies on weekly charts show more pain for the pair. Scope for dip till 61.8% Fib at 1.1152.
- SNB intervention could see a pop in CHF crosses. Retrace above 200-DMA could see further upside.
Support levels - 1.1183 (key trendline support), 1.1152 (61.8% Fib)
Resistance levels - 1.1195 (5-DMA), 1.1279 (21-EMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
