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20 Apr 2015
EUR/CHF hits lowest level since January
FXStreet (Córdoba) - EUR/CHF is extending losses into a fourth consecutive day on Monday as the euro remains weighed by Grexit increasing risks.
Eurogroup will meet on April 24th but many officials have suggested it is unlikely to reach an agreement that will grant Greece a new tranche of aid at this point.
EUR/CHF hit a nearly 3-month low of 1.0233 during the New York session and despite a bounce attempt, the pair continues to trade near lows at the 1.0255 area, recording a 0.2% daily loss.
From a wider view, EUR/CHF has been transiting a downward phase over the last 2 months after the comeback from SNB shocker lows was capped by the 1.0800 region, with the euro having fallen eight out of the last nine weeks versus the franc.
EUR/CHF levels to watch
As for technical levels, EUR/CHF could find next supports at 1.0233 (daily low), 1.0201/00 (Jan 29 low/psychological level) and 1.0180 (Jan 28 low). On the flip side, resistances are seen at 1.0300 (daily high/psychological level) and 1.0325 (Apr 17 high) and 1.0345 (10-day SMA).
Eurogroup will meet on April 24th but many officials have suggested it is unlikely to reach an agreement that will grant Greece a new tranche of aid at this point.
EUR/CHF hit a nearly 3-month low of 1.0233 during the New York session and despite a bounce attempt, the pair continues to trade near lows at the 1.0255 area, recording a 0.2% daily loss.
From a wider view, EUR/CHF has been transiting a downward phase over the last 2 months after the comeback from SNB shocker lows was capped by the 1.0800 region, with the euro having fallen eight out of the last nine weeks versus the franc.
EUR/CHF levels to watch
As for technical levels, EUR/CHF could find next supports at 1.0233 (daily low), 1.0201/00 (Jan 29 low/psychological level) and 1.0180 (Jan 28 low). On the flip side, resistances are seen at 1.0300 (daily high/psychological level) and 1.0325 (Apr 17 high) and 1.0345 (10-day SMA).