by Wed, 04 Aug 2010 22:25:00 +0200
Forex: EUR/CHF rises to 7-week high
FXstreet.com (Barcelona) - The Euro common currency resumes its upward momentum against most majors today, with the EUR/CHF rising around 110 pips on the day before hitting resistance around the 1.3860 mark. The main driver improving overall sentiment has been an upbeat US jobs report putting risk appetite back on the table over the New York session.
In after-hour trading, the pair remains at its 7-week high in 1.3858, a gain of 0.79% since open. With horizontal trading expected, immediate resistance above its current level is listed at 1.3870 and later 1.3905. To the downside, support is placed at 1.3828 and 1.3793.
| Technical Analysis (2010-08-04 20:00 GMT) | |
|---|---|
EUR/CHF 1.3847/1.3855 - O: 1.3529 H: 1.3545 L: 1.3525 C: 1.3539 | |
| Trend | R3: 1.3940 |
 | R2: 1.3905 |
| R1: 1.3870 | |
| S1: 1.3793 | |
| S2: 1.3828 | |
| S3: 1.3862 | |
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