The EUR/CHF continues to pull back from the Sunday night historic low of 1.1375 given the eurozone debt jitters, today supported by a slighlty improved risk sentiment which has allowed the pair to jump some 130 pips over the European session and reach as high as 1.1650 by mid-day.
The pair has since run into firm resistance at that mark as traders re-evaluate and wait for further direction, trading currently quiet around 1.1620. If the EUR/CHF manages to extend further above however, expect resistance past previous levels at 1.1723 (High July 13, 10-Da MA), 1.1751 (Daily High Jul 12) and 1.1808 (Daly Low Jun 27).
In the case of a reversal, support is placed at 1.1516 (Hourly Low Jul 19), 1.1399 (21-Day Lower Bolli) and 1.1365 (Historic Low Jul 18).
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