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16 Oct 2014
EUR/CHF testing lows near 1.2060
FXStreet (Edinburgh) - EUR/CHF is extending the selling mood on Thursday, putting to the test the support area around the mid-1.2000s so far.
EUR/CHF in multi-day lows
The renewed selling interest around the EUR is accentuating towards the end of the week, dragging the cross to test multi-week lows around 1.2060 (levels last seen in late September) and all framed within the broader decline from October tops at 1.2140. “EUR/CHF is on the defensive and the intraday Elliot count is more negative. This suggests further slippage toward key support at 1.2055/45, this guards 1.2000”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
EUR/CHF key levels
At the moment the cross is losing 0.03% at 1.2064 with the immediate support at 1.2053 (low Sep.30) ahead of 1.2030 (low Nov.28 2012) and then 1.2007 (low Jul.23 2012). On the flip side, a break above 1.2078 (high Oct.15) would aim for 1.2096 (high Oct.14) and finally 1.2101 (Tenkan Sen).
EUR/CHF in multi-day lows
The renewed selling interest around the EUR is accentuating towards the end of the week, dragging the cross to test multi-week lows around 1.2060 (levels last seen in late September) and all framed within the broader decline from October tops at 1.2140. “EUR/CHF is on the defensive and the intraday Elliot count is more negative. This suggests further slippage toward key support at 1.2055/45, this guards 1.2000”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
EUR/CHF key levels
At the moment the cross is losing 0.03% at 1.2064 with the immediate support at 1.2053 (low Sep.30) ahead of 1.2030 (low Nov.28 2012) and then 1.2007 (low Jul.23 2012). On the flip side, a break above 1.2078 (high Oct.15) would aim for 1.2096 (high Oct.14) and finally 1.2101 (Tenkan Sen).