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EUR/CHF regains 1.2060

FXStreet (Edinburgh) - EUR/CHF is posting fresh session highs now, hovering over 1.2060/65 after dropping to the mid-1.2000s in early trade.

EUR/CHF bounces off 1.2050

The cross keeps the trade in a very tight range, currently coming up after a brief dip below 1.2050 on Monday. Data wise in the Alpine economy, the only releases of note this week will be the Consumption Indicator gauged by UBS and the KOF Leading Indicator, both due on Friday. In the meantime, market participants slowly commenced to turn their attention to the referendum regarding the SNB gold holdings on 30th November. “Initial resistance is found circa 1.2083, the 55 day ma. This guards the 1.2133 July low and the 200 day ma at 1.2159”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

EUR/CHF key levels

The cross is now up 0.02% at 1.2062 and a breakout of 1.2080 (30-d MA) would expose 1.2086 (38.2% of 1.2140-1.2053) and finally 1.2096 (high Oct.14). On the other hand,
The initial support lines up at 1.2053 (low Oct.2) ahead of 1.2045 (low Sep.4) and then 1.2030 (low Nov.28 2012).

Virtual Currencies rise

The Bitcoin and the Litecoin are trading higher today, although the currencies are stuck around the technical resistance levels.
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