EUR/CHF rallies to seven-week high. USD/CHF hits parity

Technical Analysis

Author: Adam Button | eurchf

Another run at 1.20?

EUR/USD briefly rose above 1.20 earlier this year and the promptly sank down to 1.1400 as long-term buyers cashed out.

Now the pair is on the march again. The ECB is talking about hiking rates in a year. It's only 10 basis points and a year away but it's a start and that's given the euro some life.

The bigger factor is on the Swiss franc side. It's been pulled down, along with the yen as safe havens fall out of favor (despite the trade worries).

Another one to watch is USD/CHF. From a technical perspective, it looks to be breaking to the upside as it climbs above parity for the first time since mid-May.


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