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EUR/CHF at daily lows after Swiss data

FXStreet (Córdoba) - The EUR/CHF came under soft pressure and hit fresh daily lows at the beginning of the European session following much better than expected Swiss retail sales data.

Retail sales rose 3.4% YoY in June, beating the 0.3% rise expected and following a 0.5% decline the previous month. The Swiss strengthened slightly on the back of data, dragging the EUR/CHF to a low of 1.2133.

Following a short-lived recovery, the pair is back headed south near its 5-month low of 1.2120 scored Friday. At time of writing, the EUR/CHF is trading at 1.2135, 0.07% below its opening price.

EUR/CHF technical levels

As for technical levels, next supports are seen at 1.2120 (Aug 8 low) and 1.2104 (2014 low March 3). On the flip side, resistances could be found at 1.2143/44 (Aug 11 & 8 highs) and 1.2153 (Aug 7 high).

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