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3 Mar 2015
EUR/CHF climbs to highs near 1.0740
FXStreet (Edinburgh) - The Swiss franc is now rapidly losing ground vs. its European peer on Tuesday, pushing EUR/CHF to test intraday highs near 1.0740.
EUR/USD boosted by EUR strength
The cross is advancing for the second consecutive session today, looking to recover the ground lost in last week’s sharp pullback. In the data front, GDP figures showed the Alpine economy expanded 1.9% on a yearly basis during Q4 and 0.6% inter-quarter, bettering estimates at 1.7% and 0.3%, respectively.
In the meantime, the main event this week will be the ECB meeting on Thursday where the central bank should give further details regarding the start of the bond-buying programme.
EUR/CHF levels to consider
The cross is now up 0.17% at 1.0737 with the next hurdle at 1.0800 (high Feb.25) ahead of 1.0811 (high Feb.20) and then 1.1000 (psychological level). On the flip side, a breach of 1.0610 (low Feb.27) would expose 1.0554 (low Feb.16) and finally 1.0414 (low Feb.9).
EUR/USD boosted by EUR strength
The cross is advancing for the second consecutive session today, looking to recover the ground lost in last week’s sharp pullback. In the data front, GDP figures showed the Alpine economy expanded 1.9% on a yearly basis during Q4 and 0.6% inter-quarter, bettering estimates at 1.7% and 0.3%, respectively.
In the meantime, the main event this week will be the ECB meeting on Thursday where the central bank should give further details regarding the start of the bond-buying programme.
EUR/CHF levels to consider
The cross is now up 0.17% at 1.0737 with the next hurdle at 1.0800 (high Feb.25) ahead of 1.0811 (high Feb.20) and then 1.1000 (psychological level). On the flip side, a breach of 1.0610 (low Feb.27) would expose 1.0554 (low Feb.16) and finally 1.0414 (low Feb.9).