fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: EUR/CHF Weekly Outlook Wed Dec 12, 2012 11:51 am | |
| EUR/CHF Weekly Outlook EUR/CHF spiked higher to 1.2168 last week on talk of negative swiss franc deposit interests but then dropped back sharply. It once looked like the cross will take on 1.2184 resistance but then no follow through buying was seen. Now, as long as 1.2128 minor resistance holds, EUR/CHF could spiral back down towards 1.2 SNB floor. Though, above 1.2128 will be a sign of buying re-emergence and could send the cross towards 1.2184 resistance. In the bigger picture, current development indicates that further rally would likely be seen in EUR/CHF in medium term. However, such rally is viewed as part of a consolidative pattern. Break of 1.2472 resistance is possible. But we'd continue to expect strong resistance inside 1.2399/3243 resistance zone to limit upside. Meanwhile, any downside attempt should be contained by 1.2, the floor set by SNB. | |
|