29 Aug 2013
EUR/CHF above 1.2300 as fears on early military strike abated
FXstreet.com (Athens) - The EUR/CHF is trading smoothly upwards, consolidating around 1.2300 level.
The EUR/CHF continues to consolidate around the 1.2300 handle
Traders were relatively more hopeful on the European trading session, as it was all quiet on the Syrian front. As a consequence, the single currency found solid ground to boost further and mostly to consolidate above the 1.2300 zone. There have been some spicy comments on behalf of ECB, as Nowotny said ‘central banks shouldn't intervene in FX markets, the Swiss monetary policy is very unconventional’.
Technical outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2310, up 0.10%, not far away from its daily high of 1.2315. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 1.2288, 1.2257, 1.2227, and resistance at 1.2378, 1.2409 and 1.2434, respectively.
The EUR/CHF continues to consolidate around the 1.2300 handle
Traders were relatively more hopeful on the European trading session, as it was all quiet on the Syrian front. As a consequence, the single currency found solid ground to boost further and mostly to consolidate above the 1.2300 zone. There have been some spicy comments on behalf of ECB, as Nowotny said ‘central banks shouldn't intervene in FX markets, the Swiss monetary policy is very unconventional’.
Technical outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2310, up 0.10%, not far away from its daily high of 1.2315. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 1.2288, 1.2257, 1.2227, and resistance at 1.2378, 1.2409 and 1.2434, respectively.