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Forex pairs in this Article » EUR/CHF
FXstreet.com (Barcelona) - The increasing outflows of the safe havens and the last ECB statement signaling the likeliness of a recovery in the euro zone fundamentals ahead in the year (?) have propelled the pair to the vicinity of 1.2270/75, levels last seen in December 2011

"SNB unwillingness to hike rates and ECB unwillingness to cut rates is also supporting EURCHF. Only later in February when investors worry about the next US fiscal cliff is the cross likely to be capped again", suggested M.Mohi-uddin, Director of FX Strategies at the Swiss bank UBS.

As of writing, the pair is up 0.57% at 1.2264 facing the next resistance at 1.2400 (high Dec.8 2011) followed by 1.2444 (high Dec.7 2011) and finally 1.2458 (high Nov.8).
On the flip side, a breach of 1.2171 (B Bollinger) would expose 1.2127 (low Jan.11) and then 1.2118 (MA10d).
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