EUR/CHF rises to 1-week highs, still below 1.0900

EUR/CHF is rising for the second trading day in a row and it approached 1.0900. Last week the pair bottomed at 1.0820 and then rebounded. It has been rising constantly since Friday’s European session.

Today it peaked at 1.0892, the strongest level since August 15. It was about to end the day hovering around 1.0880/85.

Since the week after the Brexit referendum results EUR/CHF has been consoling, moving sideways around 1.0870. The key report in Europe on Tuesday will be PMIs but data is unlikely to push the pair outside of the current consolidate range.

Technical levels

To the upside resistance levels might be located at 1.0900 (psychological level), 1.0940 (July highs) and 1.0955 (Apr 1 high & Apr 29 low). On the opposite direction support could be seen at 1.0865 (daily low), 1.0835 (Aug 16 low) and 1.0820/25 (lower limit of the current range / July and Aug lows).