6 Jun 2013
EUR/CHF erases overnight losses to settle at 1.2346/47 ahead of ECB
FXstreet.com (Barcelona) - The EUR/CHF exchange rate has lifted itself out of the doldrums Thursday, paring its overnight losses (1.2320 intraday low), to operate presently at 1.2346/47 in these moments.
Eurozone data has begun to pick up again. This is reducing the pressure on the ECB to follow up on last month's 25bps cut in its refinance rate. As a result the ECB is set to keep its deposit rate at zero and its refinance rate at 0.50% today when it unveils its decision at 11:45 GMT.
Following what was an otherwise ugly extension of a weekly downside for the pair, during European trading, the pair has managed to settle in positive territory, up +0.10% on the day. According to the Mataf.net analyst team, the EUR/CHF will face calculated short-term resistances at 1.2398, then 1.2497, and finally 1.2502. Alternatively, support lies below at 1.2294, ahead of 1.2249, and 1.2190.
Eurozone data has begun to pick up again. This is reducing the pressure on the ECB to follow up on last month's 25bps cut in its refinance rate. As a result the ECB is set to keep its deposit rate at zero and its refinance rate at 0.50% today when it unveils its decision at 11:45 GMT.
Following what was an otherwise ugly extension of a weekly downside for the pair, during European trading, the pair has managed to settle in positive territory, up +0.10% on the day. According to the Mataf.net analyst team, the EUR/CHF will face calculated short-term resistances at 1.2398, then 1.2497, and finally 1.2502. Alternatively, support lies below at 1.2294, ahead of 1.2249, and 1.2190.