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17 Sep 2013
EUR/CHF makes its way above 1.2350
FXstreet.com (Barcelona) - The EUR/CHF foreign exchange cross rate is last trading at bids 1.2366 up +0.07% for the week so far, ahead of German ZEW at 09:00 GMT.
EUR/CHF being weighed on
“EUR/CHF was already being weighed on earlier in the day when risk appetite was more upbeat as USD/CHF longs headed for the exit, but deep into the North American session there is a more traditional safe haven feel to the move,” said the FXMarketAlerts Team, adding: “Mindful of not wanting to protect 1.20 from too close we can expect a few verbal reminders of the SNB's currency policy on any dip onto a 1.21 handle.”
EUR/CHF key technical levels
Immediate resistance to the upside for EUR/CHF shows at Monday's Asian session highs 1.2371, followed by late London session weekly highs at 1.2381, and Friday's highs at 1.2392. To the downside, closest support lies at recent session lows 1.2357, followed by Thursday's lows at 1.2351, and Monday's weekly/Sept 09 lows at 1.2334/32.
EUR/CHF being weighed on
“EUR/CHF was already being weighed on earlier in the day when risk appetite was more upbeat as USD/CHF longs headed for the exit, but deep into the North American session there is a more traditional safe haven feel to the move,” said the FXMarketAlerts Team, adding: “Mindful of not wanting to protect 1.20 from too close we can expect a few verbal reminders of the SNB's currency policy on any dip onto a 1.21 handle.”
EUR/CHF key technical levels
Immediate resistance to the upside for EUR/CHF shows at Monday's Asian session highs 1.2371, followed by late London session weekly highs at 1.2381, and Friday's highs at 1.2392. To the downside, closest support lies at recent session lows 1.2357, followed by Thursday's lows at 1.2351, and Monday's weekly/Sept 09 lows at 1.2334/32.