Forex: EUR/CHF breaks above 1.22 printing 1-year highs
Forex pairs in this Article »
EUR/CHF
FXstreet.com (Barcelona) - EUR has been by far, strongest major currency among all, while Yen has been the weakest one. But even against Swiss Franc, EUR has been around +1% stronger, and thus EURCHF has climbed to 1-year high, last at 1.2212, off mentioned 1-year and session's high.
Following past Thursday, when ECB sent the message that the easing cycle had been finished, EURCHF broke to the upside the thin range it had been into for the week since the beginning, around the 1.2090, now +1.09% higher from that previous weekly open. The cross reads a extreme RS1 14 overbought levels at 71 in the weekly chart, not seen since Sept last year.
Immediate resistance to the upside for EURCHF shows at Nov 30 2011 lows 1.2223, followed by Nov 25 2011 lows at 1.2240, and Dec 21-27 2011 highs at 1.2243. To the downside, closest support lies at Friday's highs 1.2202, followed by Sept 17 2012 highs at 1.2185, and Dec 05 2012 highs at 1.2168.
Following past Thursday, when ECB sent the message that the easing cycle had been finished, EURCHF broke to the upside the thin range it had been into for the week since the beginning, around the 1.2090, now +1.09% higher from that previous weekly open. The cross reads a extreme RS1 14 overbought levels at 71 in the weekly chart, not seen since Sept last year.
Immediate resistance to the upside for EURCHF shows at Nov 30 2011 lows 1.2223, followed by Nov 25 2011 lows at 1.2240, and Dec 21-27 2011 highs at 1.2243. To the downside, closest support lies at Friday's highs 1.2202, followed by Sept 17 2012 highs at 1.2185, and Dec 05 2012 highs at 1.2168.
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