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21 Feb 2013
Forex: EUR/CHF dips to lows below 1.2300
The Swiss franc is rapidly appreciating against the single currency on Thursday, following the prevailing risk aversion stemmed from the hawkish tone from yesterday’s FOMC minutes.
In the data front, the trade surplus of the Alpine economy during January widened to CHF 2.126 billion from CHF 904 million in the previous print. Consensus was expecting CHF 2.2 billion.
At the moment, the pair is retreating 0.22% at 1.2287
Next support levels line up at 1.2271 (MA55d) ahead of 1.2255 (low Feb.8/11) and then 1.2228 (Lower Bollinger).
On the other hand, a break above 1.2348 (MA21d) would accelerate the upside towards 1,2360 (highs Feb.19/20) and finally 1.2387 (high Feb.13).
In the data front, the trade surplus of the Alpine economy during January widened to CHF 2.126 billion from CHF 904 million in the previous print. Consensus was expecting CHF 2.2 billion.
At the moment, the pair is retreating 0.22% at 1.2287
Next support levels line up at 1.2271 (MA55d) ahead of 1.2255 (low Feb.8/11) and then 1.2228 (Lower Bollinger).
On the other hand, a break above 1.2348 (MA21d) would accelerate the upside towards 1,2360 (highs Feb.19/20) and finally 1.2387 (high Feb.13).