12 May 2015
EUR/CHF finds support at 1.0385
FXStreet (Córdoba) - EUR/CHF managed to erased losses and is trading around 1.0420, flat for the day. During the European session weakened and dropped below 1.0400 but as it happened yesterday the area above 1.0380 capped the decline.
EUR/CHF technical outlook
The pair is consolidating since the beginning of the week it has been moving sideways, without a clear trend, after rising sharply last Friday, when it climbed from 1.0350 to 1.0452, hitting the strongest level in a week and the pulled back.
Price remains capped in a range with support at 1.0385 and resistance at 1.0435/40 (May 11, 12 high). The short term momentum still favor the euro but in order to open the doors for further gains it needs to break 1.0435.
EUR/CHF technical outlook
The pair is consolidating since the beginning of the week it has been moving sideways, without a clear trend, after rising sharply last Friday, when it climbed from 1.0350 to 1.0452, hitting the strongest level in a week and the pulled back.
Price remains capped in a range with support at 1.0385 and resistance at 1.0435/40 (May 11, 12 high). The short term momentum still favor the euro but in order to open the doors for further gains it needs to break 1.0435.