EUR/CHF - Challenging The Key Resistance at 1.0600
EUR/CHF is recovering after its recent massive sell-off. The key resistance at 1.0600 (intraday high) is challenged. Other resistances can be found at 1.0675 (61.8% retracement) and 1.1002 (02/09/2011 low). Hourly supports lie at 1.0356 (intraday low) and 1.0184 (28/01/2015 low).
The EUR/CHF is again a free-floating currency and has declined to uncharted water. The ECB's QE programme is likely to cause persistent selling pressures on EUR/CHF. As a result, the key resistance at 1.0600 should be hard to break. A key support stands at 0.9715. The 15 January low at 0.8517 is a strong support, which should hold in the coming months.