EUR/CHF back above 1.0400 despite Greek crisis

FXStreet (Córdoba) – The euro has risen sharply across the board during the last hours, erasing most of the losses. EUR/CHF is back at the level it closed on Friday, trading above 1.0400.

Recently climbed to 1.0427 and currently trades at 1.0410 as EUR/USD rallies above 1.1200, now at 5-day highs.

No fundamental news was behind the rally of the euro. The latest report from Greece showed that the country was not going to pay to the International Monetary Fund on Tuesday. Also an official said that they will no nationalized banks.

EUR/CHF levels to watch

With the recent rally the euro has been able so far to avoid the lowest close in at least two months versus the Swiss franc. To the upside, immediate resistance lies at 1.0420/30 (American session high) and above at 1.0455 and 1.0475. On the opposite direction support might lie at 1.0390, 1.0350 and 1.0310 (daily low).

The euro has risen sharply across the board during the last hours, erasing most of the losses. EUR/CHF is back at the level it closed on Friday, trading above 1.0400.

(Market News Provided by FXstreet)