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EUR/USD in highs around 1.2960/70

FXstreet.com (Barcelona) - The renewed weakness in the greenback is fuelling the current bull run in the EUR/USD on Wednesday, climbing to the boundaries of 1.2970 from session lows around 1.2840.

“Eurozone credit data this morning showed steady growth in deposits, but weak corporate lending, which seems to support an asset purchase program”, noted Strategist Marcin Budkiewicz at TD Securities. Next on tap in the euro docket will be the flash consumer prices in Germany, expected to grow at an annual rate of 1.3%.

EUR/USD is now up 0.80% at 1.2958 with the next resistance at 1.2968 (MA21d) and then 1.2994 (high May 24). On the downside, a drop beyond 1.2821 (low May 23) would clear the way to 1.2809 (low May 20) en route to 1.2796 (low May 17).

USD/CHF crashes to session lows at 0.9600 level

After trading as high as 0.9791 earlier today (session high), the USD/CHF has utterly collapsed during European trading Wednesday, crashing through calculated support.
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