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Forex pairs in this Article » EUR/CHF (Barcelona) - EURCHF is up for the week so far +1.18% at current 1.2331, off recent session and 1-year highs at 1.2342, and even higher from past Thursday's ECB meeting, adding +2.01% of gains since then, "strongest rally since CHF1.20 floor imposed," said TDS analysts.

"Relaxing EZ tensions have helped reduce 'safe haven' demand for the CHF," Toronto Research Team at TD Securities add, expanding: "In addition, news reports suggesting that another Swiss bank was considering negative interest rates on CHF deposits seems to have added to the recent mood swing away from the CHF."

Immediate resistance to the upside show at recent session 1-year highs 1.2342, followed by Dec 2010 lows at 1.2383, and March 2011 lows at 1.2387. To the downside, nearest term support lies at yesterday's London session high 1.2278, followed by NY premarket lows at 1.2239, and yesterday's London session lows at 1.2210.
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