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27 Jan 2015
EUR/CHF rises back above 1.0200
FXStreet (Córdoba) - The EUR/CHF pair is rising on Tuesday, on a volatile session, headed toward the highest close since the Swiss National Bank (SNB) abandoned the 1.20 peg.
On European hours it jumped to 1.0380 boosted by declarations of Jean-Pierre Danthine, vice president of the SNB that mentioned that the central bank was fundamentally prepared to intervene in the markets.
Afterwards EUR/CHF reversed sharply and dropped to 1.0075 but then once again gained upside momentum and rose toward 1.0300. Currently trades at 1.0260/70, up 0.95% for the day. Since the beginning of the week it has risen almost 500 pips.
EUR/CHF breaks 1.0200
From a technical perspective the pair is consolidating above an important short term resistance located around 1.0200. The area capped the upside several times last week and today is finally holding above.
On European hours it jumped to 1.0380 boosted by declarations of Jean-Pierre Danthine, vice president of the SNB that mentioned that the central bank was fundamentally prepared to intervene in the markets.
Afterwards EUR/CHF reversed sharply and dropped to 1.0075 but then once again gained upside momentum and rose toward 1.0300. Currently trades at 1.0260/70, up 0.95% for the day. Since the beginning of the week it has risen almost 500 pips.
EUR/CHF breaks 1.0200
From a technical perspective the pair is consolidating above an important short term resistance located around 1.0200. The area capped the upside several times last week and today is finally holding above.