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Forex: EUR/CHF challenging 1.2300

The increasing risk aversion coupled with renewed weakness around the single currency are prompting investors to resume the inflows into the safe havens on Wednesday, dragging the pair to the boundaries of the key support at 1.2300

According to Strategists G.Yu and G.Berry at the Swiss bank UBS, the vision on the cross remains neutral, remarking “Resistance is at 1.2387 ahead of 1.2449. Support is at 1.2256 ahead of 1.2191”.

At the moment, the pair is losing 0.24% at 1.2304 with the next support at 1.2255 (lows Feb.8/11) ahead of 1.2249 (MA55d) and finally 1.2246 (Lower Bollinger).
On the upside, a surpass of 1.2369 (MA21d) would allow 1.2387 (high Feb.13) and then 1.2405 (high Feb.4).

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