EUR/CHF eyeing session highs near 1.0920

By FXStreet The Swiss franc is depreciating further today, sending EUR/CHF to daily peaks in the 1.0915/20 band.

EUR/CHF bounces off 1.0850

The cross is prolonging its rebound from yesterday’s multi-week lows in the mid-1.0800s following today’s increasing outflows from the safe haven CHF. A pick up of the risk-on trade has been weighing on the franc so far, which has gained nearly 4 cents since January peaks above the 1.1200 handle vs. its European peer.

Data wise in Switzerland, Industrial Orders have contracted 7.7% during the fourth quarter, extending the drop from the previous quarter. Back to Euroland, EMU’s final CPI during January showed prices rose 0.3% YoY.

EUR/CHF significant levels

As of writing the cross is gaining 0.25% at 1.0915 facing the next resistance at 1.0939 (55-day sma) followed by 1.1030 (20-day sma) and finally 1.1070 (high Feb.17). On the other hand, a breach of yesterday’s lows at 1.0857 would aim for 1.0820 (2016 lows Jan.6) and then 1.0779 (200-day sma).
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Source:: FX Street