10 Apr 2014
EUR/CHF falls to 3-week lows
FXStreet (Córdoba) - The EUR/CHF approach 1.2200 during the Asian session but quickly lost momentum and resume the decline. On New York fell to 1.2162 reaching the lowest price since March 20.
Outlook for the EUR/CHF
On a wider view the pair remains moving sideways but since last Thursday is doing it with a clear downside bias retreating after finding resistance at 1.2250. As the price approaches 1.2000 (SNB floor) demand is likely to rise.
The recovery from February lows is facing a strong reversal. The euro is headed toward the worst weekly decline since January, suggesting that the dominant trend still points to the downside.
Outlook for the EUR/CHF
On a wider view the pair remains moving sideways but since last Thursday is doing it with a clear downside bias retreating after finding resistance at 1.2250. As the price approaches 1.2000 (SNB floor) demand is likely to rise.
The recovery from February lows is facing a strong reversal. The euro is headed toward the worst weekly decline since January, suggesting that the dominant trend still points to the downside.