EUR/CHF off highs, back near 1.0400

FXStreet (Edinburgh) – After hitting session peaks near 1.0420, EUR/CHF has now returned to the 1.0400 neighbourhood.

EUR/CHF capped near 1.0450

The generalized risk aversion context fuelled by the deterioration in the Greek front continues to add buying pressure to the safe haven CHF, although recent interventions by the SNB has so far succeeded in avoiding an undesirable appreciation of the franc.

In the meantime, the cross keeps navigating the 1.0350/1.0450 range pending news from Greece, which remains the main catalyst of the price action. Next of relevance in the Swiss economy will be the KOF Leading Indicator, expected to have improved to 93.8 for the current month.

EUR/CHF levels to consider

At the moment the cross is up 0.02% at 1.0396 with the next resistance at 1.0441 (high Jun.29) followed by 1.0491 (high Jun.26) and then 1.0546 (high Jun.25). On the other hand, a break below 1.0322 (low Jun.29) would open the door to 1.0296 (low Jun.1) and finally 1.0280 (low May 29).

After hitting session peaks near 1.0420, EUR/CHF has now returned to the 1.0400 neighbourhood…

(Market News Provided by FXstreet)