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29 Dec 2014
EUR/CHF trades above 50-DMA
FXStreet (Mumbai) - The EUR/CHF pair rose from the 5-DMA and the 10-DMa levels today to trade above the 50-DMA located at 1.2032 levels.
The pair is now up 0.03% to trade at 1.2034 levels, compared to the previous session’s close at 1.2029 levels. The Franc no support from the UBS Swiss consumption indicator, which slipped to 1.29 points in November from a revised 1.32 points in the previous month. Moreover, the Franc eased from the high around 1.2 levels since last few sessions after the Swiss National Bank pushed the interest rates into negative territory.
Meanwhile, gains in the EUR have been capped by uncertainty surrounding the Greek Presidential election and speculation of sovereign QE announcement from the European Central Bank (ECB).
EUR/CHF Technical Levels
The immediate resistance is seen at 1.2040, followed by another resistance at 1.2060 (100-DMA) levels. Meanwhile, support is seen at 1.2032 (50-DMA) and 1.2026 (10-DMA) levels.
The pair is now up 0.03% to trade at 1.2034 levels, compared to the previous session’s close at 1.2029 levels. The Franc no support from the UBS Swiss consumption indicator, which slipped to 1.29 points in November from a revised 1.32 points in the previous month. Moreover, the Franc eased from the high around 1.2 levels since last few sessions after the Swiss National Bank pushed the interest rates into negative territory.
Meanwhile, gains in the EUR have been capped by uncertainty surrounding the Greek Presidential election and speculation of sovereign QE announcement from the European Central Bank (ECB).
EUR/CHF Technical Levels
The immediate resistance is seen at 1.2040, followed by another resistance at 1.2060 (100-DMA) levels. Meanwhile, support is seen at 1.2032 (50-DMA) and 1.2026 (10-DMA) levels.