29 Apr 2014
EUR/CHF rises back above 1.2200
FXStreet (Córdoba) - The EUR/CHF reached a fresh 3-day high at 1.2213 recently and now is consolidating gains, as it holds above 1.2200. A weak Swiss Franc, that is the worst performer across the board, pushed the pair to the upside.
Yesterday the Euro bottomed against the Swissy at 1.2171, the lowest price in a week but the rebounded and erased losses. Now the EUR/CHF is up for the week and headed toward the second monthly gain in a row.
The pair continues to move with a sideways bias facing a strong resistance between 1.2220 and 1.2250. To the downside, support might be located at 1.2170 (April 28 low), 1.2140 and 1.2100.
Yesterday the Euro bottomed against the Swissy at 1.2171, the lowest price in a week but the rebounded and erased losses. Now the EUR/CHF is up for the week and headed toward the second monthly gain in a row.
The pair continues to move with a sideways bias facing a strong resistance between 1.2220 and 1.2250. To the downside, support might be located at 1.2170 (April 28 low), 1.2140 and 1.2100.