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19 Aug 2013
EUR/CHF is trading at 1.2345; down 0.04%
FXstreet.com (Athens) - EUR/CHF is trading in a narrow range today above 1.2300 due to no scheduled important economic news.
There is no scheduled important economic news for today and market seems to trade in a holiday mode. As a consequence, the pair is trading in a very narrow range. Earlier, German Bundesbank said in a monthly report that ‘ECB guidance doesn’t rule out a rate increase and that the German economic growth might return to its potential in the second quarter’. The single currency found solid support amid positive data from the power horse of Europe, sending EUR/CHF at its daily high (1.2370).
Danske Bank research analysts suggest that ‘traders should place buy limit orders at 1.2340, with profit target at 1.2487 and the stop-loss being placed at 1.2305’. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support and resistance can be found at S3: 1.2302 S2: 1.2271 S3: 1.2240 R1: 1.2418 R2:1.2450 R3: 1.2481
There is no scheduled important economic news for today and market seems to trade in a holiday mode. As a consequence, the pair is trading in a very narrow range. Earlier, German Bundesbank said in a monthly report that ‘ECB guidance doesn’t rule out a rate increase and that the German economic growth might return to its potential in the second quarter’. The single currency found solid support amid positive data from the power horse of Europe, sending EUR/CHF at its daily high (1.2370).
Danske Bank research analysts suggest that ‘traders should place buy limit orders at 1.2340, with profit target at 1.2487 and the stop-loss being placed at 1.2305’. The FXstreet.com Trend Index shows the pair to be slightly bearish. Daily pivot point support and resistance can be found at S3: 1.2302 S2: 1.2271 S3: 1.2240 R1: 1.2418 R2:1.2450 R3: 1.2481