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Forex pairs in this Article » EUR/CHF
FXstreet.com (Barcelona) - The Swiss franc is gaining some momentum at the moment, after falling to fresh lows against the euro at 1.2572 overnight, advancing almost five big figures since January 10, when the pair posted lows around 1.2085

"EURCHF is on course to 1.2655, the 38.2% retracement of the move down from 2007.This should hold the initial test. Above here we have nothing until the 1.3000 psychological resistance. Dips lower will find initial support at 1.2414/1.2378 ahead of 1.2318", signals Karen Jones, Head of FICC Technical Analysis at Commerzbank.

At the moment, the cross is up 0.49% at 1.2535, with the next hurdle at 1.2573 (hourly high Jan.18) followed by 1.2645 (high May 20) and then 1.2693 (high May 13).
On the downside, a dip beyond 1.2400 (MA10d) would accelerate the pullback to 1.2334 (low Jan.16) and then 1.2256 (MA21d).
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