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EUR/CHF off highs, back to 1.0820

FXStreet (Edinburgh) - The single currency is now surrendering part of the important daily advance vs. the Swiss franc, with EUR/CHF hovering over the 1.0820 area.

EUR/CHF upside limited by 1.0830

The cross is up for the second straight session today, gaining further ground in response to the earlier rally in the single currency, as the profit-taking sentiment continues to weigh on the greenback.

On the data front, Switzerland’s ZEW Survey – Expectations came in at 0.0 for the current month, down from October’s 18.3. Ahead in the session, EUR will remain under the microscope in light of the FOMC minutes due later.

EUR/CHF levels to consider

At the moment the cross is gaining 0.23% at 1.0824 and a surpass of 1.0876 (downtrend from 1.1049) would aim for 1.0930 (high Oct.30) and then 1.1049 (high Sep.11). On the other hand, the immediate support aligns at 1.0778 (100-day sma) followed by 1.0501 (23.6% Fibo of 0.8695-1.1049) and finally 1.0156 (38.2% Fibo of 0.8695-1.1049).

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