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26 Apr 2013
Forex: EUR/CHF testing the 1.2300 level
FXstreet.com (Barcelona) - The EUR/CHF has had an interesting week, which continued Friday in its schizophrenic movement and oscillation surrounding the 1.2300 level. In these moments, the pair is testing this barrier, whilst registering a marginal gain of +0.04%, after the release of Swiss data Friday.
In Switzerland, the KoF Leading Indicator came in at 1.02 in April, beating expectations of just 0.98.
According to the UBS Research Team, “There is scope for more EUR/CHF upside as bullish trend persists. We ultimately see resistance is at 1.2349, ahead of 1.2398, while support is at 1.2240 and 1.2214.
In Switzerland, the KoF Leading Indicator came in at 1.02 in April, beating expectations of just 0.98.
According to the UBS Research Team, “There is scope for more EUR/CHF upside as bullish trend persists. We ultimately see resistance is at 1.2349, ahead of 1.2398, while support is at 1.2240 and 1.2214.