13 May 2013
Forex: EUR/CHF upside capped around 1.2445/50
FXstreet.com (Barcelona) - The Swiss franc is now picking up pace against the euro on Monday, recovering the area around 1.2420/25 after hitting fresh lows in the vicinity of 1.2445/50.
Data-wise, Retail Sales in the Alpine economy surprised market participants in March, contracting 0.9% over the last twelve months vs. the forecasted 0.8% expansion and February’s 2.3%.
At the moment, the pair is down 0.13% at 1.2425 and a violation of 1.2363 (low May 10) would open the door to 1.2303 (MA10d) and finally 1.2283 (low May 9).
On the upside, resistance levels line up at 1.2461 (high May 10) ahead of 1.2505 (high Feb.4) and then 1.2515 (high Feb.1).
Data-wise, Retail Sales in the Alpine economy surprised market participants in March, contracting 0.9% over the last twelve months vs. the forecasted 0.8% expansion and February’s 2.3%.
At the moment, the pair is down 0.13% at 1.2425 and a violation of 1.2363 (low May 10) would open the door to 1.2303 (MA10d) and finally 1.2283 (low May 9).
On the upside, resistance levels line up at 1.2461 (high May 10) ahead of 1.2505 (high Feb.4) and then 1.2515 (high Feb.1).