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29 Mar 2013
Forex: EUR/CHF consolidating around 1.2170/75
FXstreet.com (Barcelona) - The Swiss franc is appreciating for the third consecutive week against the single currency, as weak data in the euro area plus the recent developments in Cyprus have combined to accelerate inflows into the safe haven, reverting the trend seen at the beginning of the year.
The pair was trading in the boundaries of 1.2400 at the beginning of March, gradually falling since then to weekly lows around 1.2155 yesterday.
At the moment EUR/CHF is posting marginal losses at 1.2171 or 0.01%, and according to Strategists G.Yu and G.Berry at UBS, “Support is at 1.2167 ahead of 1.2120. Resistance is at 1.2218 ahead of 1.2255”.
The pair was trading in the boundaries of 1.2400 at the beginning of March, gradually falling since then to weekly lows around 1.2155 yesterday.
At the moment EUR/CHF is posting marginal losses at 1.2171 or 0.01%, and according to Strategists G.Yu and G.Berry at UBS, “Support is at 1.2167 ahead of 1.2120. Resistance is at 1.2218 ahead of 1.2255”.