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23 Jan 2015
EUR/CHF falls to 1-week lows
FXStreet (Córdoba) - EUR/CHF dropped below 0.9835 and fell to 0.9780 reaching the lowest price in a week. Currently is hovering around 0.9800, declining for the fourth day in a row and headed toward the lowest close pos SNB turmoil.
After reaching on Tuesday 1.0220, the euro lost momentum and since then it has been moving with a downside bias, that is likely to persist as long as price remains below a short term descendant trendline that stands at 0.9920.
EUR down despite PMI, ECB, stocks…
The PMI index from the Eurozone rose to a 5-month high, stocks in Europe are rising sharply while bonds yields keep reaching new record lows. Even Greek stocks are climbing more than 5% on hopes of additional help. But nothing is helping the euro that is falling across the board and reached fresh at multi-year lows against the US dollar and the pound.
After reaching on Tuesday 1.0220, the euro lost momentum and since then it has been moving with a downside bias, that is likely to persist as long as price remains below a short term descendant trendline that stands at 0.9920.
EUR down despite PMI, ECB, stocks…
The PMI index from the Eurozone rose to a 5-month high, stocks in Europe are rising sharply while bonds yields keep reaching new record lows. Even Greek stocks are climbing more than 5% on hopes of additional help. But nothing is helping the euro that is falling across the board and reached fresh at multi-year lows against the US dollar and the pound.