EUR/CHF finds support at 1.0800

EUR/CHF is rising on Wednesday on the back of a weak Swiss franc. The pair is gaining ground for the second day in a row as it continues to rise after being able to hold above 1.0800. Recently it peaked at 1.0858, the highest level since Friday.

During the last days the euro traded momentarily below 1.0800 but at all times it quickly rose back above. Price continues to be unable to move away from the 1.0850 zone and continues to trade sideways.

In June EUR/CHF dropped sharply from above 1.1100 and then it stabilized, being able to defend the 1.0800 handle. The upside has been limited below 1.0950.

Technical levels

To the upside, resistance levels might be seen at 1.0865 (20-day moving average), 1.0890 (July 18 & 19 high / July 27 low) and 1.0930 (100-day moving average). On the opposite direction, support could be located at 1.0790/95 (July 5 & 6 and August 1 low), 1.0765 (June 28 low) and 1.0755 (Oct and Dec 2015 lows).