- The Swiss franc among the top performers on Tuesday even wins against the US dollar.
- EUR / CHF extends lower as no Brexit deal in sight, ahead of the ECB meeting.
The pair EUR/CHF it is trading at the lowest level in a month, below 1.0770. It is falling for the fifth day in a row as it continues to retreat after testing the December monthly highs near 1.0870.
The drop is driven by a stronger Swiss franc. The currency has risen across the board. While the majors are trading sideways, USD / CHF is trending negatively.
The appreciation of the franc comes as the European Union and the United Kingdom continue to negotiate a trade agreement and before the meeting of the European Central Bank on Thursday. The central bank is expected to introduce more stimulus measures.
From a technical perspective, the EUR / CHF is correcting lower with the negative tone intensifying as it remains below the 1.0775 / 80 zone. It is hovering around the 100-day moving average. The next support is around 1.0730 / 35. A recovery above 1.0790 would ease the downward pressure. The next resistance is seen at 1.0825 / 30.
Technical levels
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