Weaker franc: trading EUR/CHF
Swiss franc is declining versus both US dollar and the single currency. Among the reasons of CHF weakness one may cite the recent comments from the SNB that the threshold for EUR/CHF is safe at 1.20 and Swiss corporations selling the national currency.
EUR/CHF is testing levels above 1.2400. Today’s high is at 1.2426. The outlook for the pair is positive (taking into account the stream of encouraging data from the euro area). The pair may rise to 1.2465 and 1.2500. Look for the pullbacks to the breached resistance line for a chance to join the bulls.
Chart. Daily EUR/CHF
USD/CHF rose above the 200-day MA at 0.9355 today. This pair faces more technical resistance ahead (0.9400, 0.9412 and 0.9440).