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EUR/CHF breaks below 1.2100, 19-month low

FXStreet (Córdoba) - The EUR/CHF broke below 1.2100 for the first time since January 2013 and fell to 1.2084 gaining traders attention. The price approached the floor of 1.20 that the Swiss National Bank promised to defend with utmost determination.

The Swiss Franc has been rising constantly against the Euro since the beginning of July but in the last three days accelerated. The last time the EUR/CHF posted a daily gain was two weeks ago.

The pair is holding below 1.2100, near the lows, with a decline of 30 pips.” Next support in the 1.2060 area but don't expect a fast decline. The SNB has been known to step into the market well above its 1.2000 floor for EUR/CHF”, said Jamie Coleman from FXBeat.

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