EUR/CHF under pressure on EUR sell-off

FXStreet (Buenos Aires) - The EUR/CHF is also being weighed by Grexit fears, with the cross starting the day barely above the 1.0300 level, a handful of pips above May low of 1.0279. Trading around 100 pips below Friday's close, the common currency is in sell-off mode against all of its rivals, as weekend news have put the future of the Euro Union at risk, given the high risk of a Grexit, after the country rejected the latest proposal from its creditors, and called for a referendum on whether to accept austerity measures or not. With Greek banks closed on Monday, chances are of the sell-off extending through the European session.

In the meantime, the EUR/CHF attempt of recovery stalled around 1.0340, now an immediate intraday resistance, followed by 1.0402, Friday's intraday low. The immediate support for the upcoming hours comes at the mentioned May low of 1.0279, ahead of 1.0233, April 20th daily low.