Forex: EUR/CHF is trading at todays highs

FXstreet.com (London) - EUR/CHF is up above the figure, taking some pleasure in the Swissie gaining on the back of what seems to be very well received, yet, only slightly better than expected job numbers, coming in at a more positive reading of 323k against 325k consensus.

At the time of writing, the EUR/CHF is trading 1.2320 and may have met some resistance here with momentum running out at the daily fib, but it has been as high as 1.2334, a touch away from pivot point. However, hourly time frames do signal higher moves may still come into play, with EMA’s signaling bullish indicators. The daily chart has also formed a nice piercing line on the 1-month basis, which may appease the bulls. Without there being anything heavy on the cards economic data wise, obvious resistance lines take place on pivots. 1.2340, then 1.2370 and finally the psychological 1.2400 maybe some way off yet, but something to keep an eye on for which may either represent a triple top for the pair this year or the green light for the bulls in the face of improved sentiment policy coming out from the Eurozone.