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19 Feb 2013
Forex: EUR/CHF extends gains after Jordan's comments
The euro advanced versus the franc on Tuesday and hit a 6-day high during the American session after SNB's Jordan said once again that the central bank will continue to enforce EUR/CHF floor with utmost determination.
EUR/CHF climbed 40 pips throughout the day and hit a high of 1.2357 in recent dealings. The pair was already buoyed by broad euro strength seen during the New York session.
At time of writing, EUR/CHF is trading around 1.2355, recording a 0.3% gain on Tuesday. If the pair manages to overcome the 1.2360 area, next resistances are seen at 1.2384 (Feb 13 high) and 1.2402 (Feb 4 high). Supports on the other hand could be found at 1.2315 (intraday low), 1.2300 (psychological level) and 1.2285 (Feb 15 low).
EUR/CHF climbed 40 pips throughout the day and hit a high of 1.2357 in recent dealings. The pair was already buoyed by broad euro strength seen during the New York session.
At time of writing, EUR/CHF is trading around 1.2355, recording a 0.3% gain on Tuesday. If the pair manages to overcome the 1.2360 area, next resistances are seen at 1.2384 (Feb 13 high) and 1.2402 (Feb 4 high). Supports on the other hand could be found at 1.2315 (intraday low), 1.2300 (psychological level) and 1.2285 (Feb 15 low).