Forex: EUR/CHF trading at a high 1.2461

FXstreet.com (London) - The EUR/CHF has been as high as 1.2461, against a yearly high set in January of 1.2568. The pair has enjoyed the Swissie seeing to be making light work of the triple top on the weekly charts.

The FXstreet. trend index is giving a highly bullish signal for EUR/CHF, with hourly MA’s, Mac D and momentum all offering buying signals. There is also a piecing line on the weekly candles offering further impetus for the bulls to remain long. That coupled with Eurozone sovereign bond pressures underpinning the decisive moves to the upside as well as a market betting heavily against the franc to the dollar, the trend line is steep and there doesn’t seem to be much in the way of key intraday support on the charts above the 1.2400 psychological level which might attract bids. A weekly chart offers a god insight to the likely form to come for this pair, where as the down side would be a continuation of a very long trend.