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Forex pairs in this Article » USD/CHF (Athens) – The EUR/CHF spiked upwards almost 30 pips, after the ZEW released data showed that the German ZEW survey Expectations rose to the highest level since the April of 2010.

The ZEW survey expectations data were announced at the highest levels seen since the April as of 2010, boosting the single currency, therefore dragging the cross upwards. Furthermore, Spain sold 1-year bills to yield 0.961%, which is the lowest since April 2010 showing that apart from the power horse of Euro land, things get back on track also to the trouble, mostly south-European countries.

Technical Outlook on EUR/CHF

Karen Jones, Head Technical Analyst at Commerzbank suggests that the “EUR/CHF continues to rebound off the 1.2217/15 June and September lows and tests the six month resistance line at 1.2344. Should it be breached and a daily chart close above it be made, the Fibonacci cluster at 1.2372/81 will be targeted as well. Dips should find support around the 1.2278/66 August lows ahead of the 1.2217/15 June and September lows.”
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