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EUR/CHF finds traction near 1.2500 level

FXstreet.com (Barcelona) - The EUR/CHF has managed to find itself entrenched in negative territory during European trading, stubbornly clinging to the 1.2500 level, whilst operating 1.2509/11 presently.

At the time of writing, the pair is now suffering a decline of -0.40% off its opening Wednesday. The 1.2500 level has provided a good deal of traction and support as of late, despite a recent plunge that took the cross to the depths of 1.2489 (session low).

Technically speaking, the Mataf.net analyst team has calculated short-term supportive bastions at the 1.2471, ahead of .12411, and finally 1.2326. Should the cross pare any of its losses or rebound higher, resistances will be encountered for the EUR/CHF at 1.2582, then 1.2633, and eventually 1.2693.

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