EUR/CHF drops below 1.0780, to lowest since April 2017

EUR/CHF slumps to its lowest level since April 2017.
United States labels Switzerland as a currency manipulator.

Matías Salord FXStreet

The Swiss franc is the best performer among the main European currencies over the last seven trading days. Despite the improvement in market sentiment, it kept rising. Today, CHF versus EUR hit the highest level in more than two years.

The EUR/CHF pair dropped to 1.0759, after breaking a consolidation range. As of writing it trades at 1.0770/75, down almost 40 pips for the day, about to post the lowest close since April 2017.

Today the Swiss franc keep rising after the United Stated added Switzerland to its list of currency manipulators. The Swiss National Bank mentioned that all its interventions are purely related to monetary policy. The developments could represent a pressure to the SNB to not intervene.

Technical levels

EUR/CHF

Overview
Today last price	1.0769
Today Daily Change	-0.0043
Today Daily Change %	-0.40
Today daily open	1.0812

Trends
Daily SMA20	1.0863
Daily SMA50	1.0922
Daily SMA100	1.0933
Daily SMA200	1.1046

Levels
Previous Daily High	1.0834
Previous Daily Low	1.0796
Previous Weekly High	1.0862
Previous Weekly Low	1.0782
Previous Monthly High	1.1044
Previous Monthly Low	1.0838
Daily Fibonacci 38.2%	1.0811
Daily Fibonacci 61.8%	1.082
Daily Pivot Point S1	1.0794
Daily Pivot Point S2	1.0776
Daily Pivot Point S3	1.0756
Daily Pivot Point R1	1.0832
Daily Pivot Point R2	1.0852
Daily Pivot Point R3	1.087

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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