EUR/CHF touches a high of 1.1640 on the day
The pair is up by 0.9% today as the euro climbs on the back of ECB comments while the swissie lags behind as the market shuns at risk-off currencies on the day.
The next key target now for the pair is the 200-day MA (blue line) @ 1.1660, and that is where we need to see if buyers can make a break for a move higher. Beyond that, key resistance levels are also seen at the 50.0 retracement level @ 1.1687 and the 100-day MA (red line) @ 1.1718 - also not to forget the 1.1700 handle.
If anything, the rebound today will provide the SNB with much needed relief and adds more comfort to them as Swiss inflation figures touch the highest since 2011 for the month of May.
The pair looks to have found a bottom after the failure to break below the 1.1400 handle into the daily close, and I'd watch for a move above the 100-day MA as that will provide a strong signal for a move back towards the 1.2000 handle.
