Back
28 Aug 2013
EUR/CHF capped by 1.2300
FXstreet.com (Athens): The EUR/CHF is confined at 1.2882-1.2888 area in the Wednesday’s European trading session
Investors have become jittery, therefore the EUR/CHF slides again on Wednesday.
The ultimate ‘safe-haven’ currency, the ‘Swissie’ (apart from the Japanese yen), gains solid ground against the single currency, as risk aversion mood prevails across the board amidst Syria’s jitters. Iran and Russia have been making various warnings against the US intervening or attacking Syria, but Syria scare seems to be priced in for the moment. Furthermore, Merkel’s Party Ally Wellmann says, ‘it is time for a surgical strike on Syria’, boosting ‘risk-aversion’ all over the globe. Last but not least, ECB's Liikanen says ‘worst is over in Europe, according to Helsingin Sanomat’.
Technical outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2283, down 0.03%, not far away from its daily low of 1.2281. The FXstreet.com Trend Index shows the pair to be slightly bullish. 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.
Investors have become jittery, therefore the EUR/CHF slides again on Wednesday.
The ultimate ‘safe-haven’ currency, the ‘Swissie’ (apart from the Japanese yen), gains solid ground against the single currency, as risk aversion mood prevails across the board amidst Syria’s jitters. Iran and Russia have been making various warnings against the US intervening or attacking Syria, but Syria scare seems to be priced in for the moment. Furthermore, Merkel’s Party Ally Wellmann says, ‘it is time for a surgical strike on Syria’, boosting ‘risk-aversion’ all over the globe. Last but not least, ECB's Liikanen says ‘worst is over in Europe, according to Helsingin Sanomat’.
Technical outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2283, down 0.03%, not far away from its daily low of 1.2281. The FXstreet.com Trend Index shows the pair to be slightly bullish. 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.