EUR/CHF rises to test 1.0900, at 3-week highs

FXStreet (Córdoba) - A weak Swiss franc across the board boosted EUR/CHF to break above 1.0880. It reached the strongest level since August 12 and is testing an important resistance that could open the way for more gains.

EUR/CHF eyeing 1.0900

Price peaked during the US session at 1.0894 and remains near the highs, testing the 1.0900 area. The pair traded momentarily above 1.0900 in August but if failed to hold and then pulled back finding support above 1.0700.

Resistance above 1.0900, might lie at 1.0930 (August 12 high) and above here at 1.0960 (August highs). If the euro manages to stabilize on top of 1.0900 it could gain further bullish momentum.

The Swiss franc continues to be among the worst performs. While EUR/CHF is testing 1.0900, USD/CHF is moving toward 0.9700. The euro is also weak on the currency market as stocks recover modestly in the US and ahead of Thursday, when the European Central Bank will announced its decision on monetary policy and its views on growth and inflation, that could influence the euro.