EUR/CHF broke above June high (~1.0575) last week but pulled back below it ahead of the weekend. The pair traded above the level overnight and is so far holding up well. With the Greek risk out of the way for now, demand for safe haven lessened. Potential SNB buying in the dips may also play a role of supporting the bullish sentiment.

If the pair continues higher we may see a retest of 1.08 in the days ahead. The next targets would then be 200 DMA (~1.0940) and 76.4% retracement of the January 15th sell-off (~1.1175). Initial support is seen between 1.0550 and 1.0575.

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