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13 Sep 2013
EUR/CHF is trading sideways
FXstreet.com (Athens)- The EUR/CHF is trading mostly sidelines on Friday, since the opening of the Asian’s trading session.
EUR/CHF capped by 1.2400 area as risk-appetite wanes ahead of now imminent FOMC
The EUR/CHF is trading sideways but well below 1.2400, since risk appetite waned overnight as market attention bounced back to focus on the now imminent FOMC policy decision on September 18. What’s more, Syria’s issue is still on focus, even if it doesn’t be across the news wires at the same immensely tone. This issue still has the potential to create uncertainty and renewed tension. Finally, the data in Euro zone July industrial production (-1.5% against expectations of -0.3%) underscored the challenge for ECB to boost economy.
Technical Outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2377, down 0.01%. It is of great importance to point out that the pair should overcome the mid-term downtrend pattern of the 1.2410 area, in order to move on closer to 1.2500 handle. The FXstreet.com Trend Index shows the pair to be strongly bearish in the 15-minutes timeframe chart. Daily pivot point support can be found at 1.2288, 1.2257, 1.2227, and resistance at 1.2434, 1.2459 and 1.2490, respectively.
EUR/CHF capped by 1.2400 area as risk-appetite wanes ahead of now imminent FOMC
The EUR/CHF is trading sideways but well below 1.2400, since risk appetite waned overnight as market attention bounced back to focus on the now imminent FOMC policy decision on September 18. What’s more, Syria’s issue is still on focus, even if it doesn’t be across the news wires at the same immensely tone. This issue still has the potential to create uncertainty and renewed tension. Finally, the data in Euro zone July industrial production (-1.5% against expectations of -0.3%) underscored the challenge for ECB to boost economy.
Technical Outlook on EUR/CHF
At the time of writing, EUR/CHF is trading as of 1.2377, down 0.01%. It is of great importance to point out that the pair should overcome the mid-term downtrend pattern of the 1.2410 area, in order to move on closer to 1.2500 handle. The FXstreet.com Trend Index shows the pair to be strongly bearish in the 15-minutes timeframe chart. Daily pivot point support can be found at 1.2288, 1.2257, 1.2227, and resistance at 1.2434, 1.2459 and 1.2490, respectively.