The EUR/CHF pair initially fell during the course of the session on Monday, but found enough support below the 1.08 level to turn things back around and
The EUR/CHF pair initially fell during the course of the session on Monday, but found enough support below the 1.08 level to turn things back around and break back above that barrier. By doing so, it shows that the market still has plenty of support underneath it, and we believe that the EUR/CHF pair will continue to grind its way higher given enough time. We have notched in selling this market, and believe that the 1.07 level below is massively supportive and should be essentially the “floor” in a market that is supported by the Swiss National Bank.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
