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16 Aug 2013
EUR/CHF slapped to below 1.24 again
FXstreet.com (Barcelona) - The EUR/CHF foreign exchange cross rate is last trading near session highs at 1.2369 bids at exactly same level it was 2 days ago at the same time, retracing from fresh 1-month high printed at 1.2437 by early NY session.
EUR/CHF heavily sold above 1.24
Reportedly heavy hedge fund sales from 1.2425/35 starting Wednesday finally turned the cross lower, though still a +2.44% higher year to date, mostly on the back of Euro strength. Later on EU current account at 08:00 GMT and CPI 1 hour after will be next risk events to keep an eye on for all EUR crosses.
EUR/CHF key technical levels
Immediate resistance to the upside for EUR/CHF shows at Tuesday's highs 1.2383, followed by August 02 highs at 1.2398, and July 24 highs at 1.2403. To the downside, closest support lies at Wednesday's lows at 1.2364 followed by July 30/August 05 highs, and July 22/August 02-04 lows at 1.2324/19.
EUR/CHF heavily sold above 1.24
Reportedly heavy hedge fund sales from 1.2425/35 starting Wednesday finally turned the cross lower, though still a +2.44% higher year to date, mostly on the back of Euro strength. Later on EU current account at 08:00 GMT and CPI 1 hour after will be next risk events to keep an eye on for all EUR crosses.
EUR/CHF key technical levels
Immediate resistance to the upside for EUR/CHF shows at Tuesday's highs 1.2383, followed by August 02 highs at 1.2398, and July 24 highs at 1.2403. To the downside, closest support lies at Wednesday's lows at 1.2364 followed by July 30/August 05 highs, and July 22/August 02-04 lows at 1.2324/19.