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10 Sep 2013
EUR/CHF on the upper level as Syria’s jitters wane
FXstreet.com (Athens)- The EUR/CHF is trading higher today after risk-on sentiment got well back.
The EUR/CHF seems to be ahead of the ending of the recent pullback
While the monthly reads on Swiss unemployment and Swiss retail sales figures came in just about as expected fell entirely to affect the pair, as risk sentiment hits the “on” button again. The data regarding Europe let down investors today, as both Sweden and French released poor data. ECB's Liikanen, mentioned to say that “Increased liquidity needed to cut bank vulnerability.” Mostly and above all, it seems that the ‘swissie’ lost its appeal on news wires that suggest ““Syria welcomed Russian proposal to put its chemical weapons under international control and US military strike could be abating.”
Technical outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2374, up 0.12%, not far away from its daily high of 1.2385. It is of great importance that the pair closed on Monday above its 50 daily EMA, thus the recent pullback may well coming to an end. The FXstreet.com Trend Index shows the pair to be strongly bearish in the 15-minutes timeframe chart. Daily pivot point support can be found at 1.2288, 1.2257, 1.2227, and resistance at 1.2378, 1.2409 and 1.2434, respectively.
The EUR/CHF seems to be ahead of the ending of the recent pullback
While the monthly reads on Swiss unemployment and Swiss retail sales figures came in just about as expected fell entirely to affect the pair, as risk sentiment hits the “on” button again. The data regarding Europe let down investors today, as both Sweden and French released poor data. ECB's Liikanen, mentioned to say that “Increased liquidity needed to cut bank vulnerability.” Mostly and above all, it seems that the ‘swissie’ lost its appeal on news wires that suggest ““Syria welcomed Russian proposal to put its chemical weapons under international control and US military strike could be abating.”
Technical outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2374, up 0.12%, not far away from its daily high of 1.2385. It is of great importance that the pair closed on Monday above its 50 daily EMA, thus the recent pullback may well coming to an end. The FXstreet.com Trend Index shows the pair to be strongly bearish in the 15-minutes timeframe chart. Daily pivot point support can be found at 1.2288, 1.2257, 1.2227, and resistance at 1.2378, 1.2409 and 1.2434, respectively.