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Forex: EUR/CHF stalls ahead of 1.2200

FXstreet.com (Córdoba) - In an uneventful session, the euro managed to advance versus the franc and reached a 10-day peak as the Swiss currency weakened across the board.

After sliding to a low of 1.2177, EUR/CHF bounced and reached a high 1.2194 before losing momentum. At time of writing, the cross is trading around 1.2185, where it is just a few pips above its opening price.

As for technical levels, on the upside, next resistances could be found at 1.2200 (Apr 12 high) and 1.2212 (Apr 9 high), while supports are seen at 1.2160 (200-day SMA) and 1.2135 (Apr 16 low).

Forex Flash: Importers flock to buy USD/JPY on dips – UBS

According to the UBS Research Team, “Retail clients have been active sellers of yen but corporates and institutional clients have been slow to react to the slide of the currency in the last six months. As a result, importers now are buying the USD/JPY and yen crosses on any real dips – we expect such import demand for foreign exchange will continue.”
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