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Forex: EUR/CHF testing session lows

FXstreet.com (Barcelona) - The Swiss franc is gaining ground against the European currency on Friday, pushing the cross to the boundaries of the key support at 1.2300

Economic releases from the Alpine economy showed that February’s Producer and Import Prices rose 0.1% on a monthly basis and 0.1% over the last twelve months, vs. January’s -0.1% and +0.8%, respectively.

The CHF has been gradually appreciating since the SNB left intact its monetary policy in yesterday’s meeting, confirmed by the later press conference by President T.Jordan.

At the moment, the pair is retreating 0.03% at 1.2310 with the next support at 1.2294 (MA21d) ahead of 1.2277 (low Mar.6) and finally 1.2252 (low Mar.5).
On the flip side, a breakout of 1.2391 (high Mar.8) would open the door to 1.2405 (high Feb.4) en route to 1.2505 (high Feb.4).

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