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2 Dec 2014
EUR/CHF reaches 3-week high
FXStreet (Córdoba) - EUR/CHF climbed to the 1.2045 zone Tuesday and hit a 3-week peak, extending its recovery from a 26-month low of 1.2007 scored on Nov 19.
EUR/CHF managed to overcome the post-gold proposal rejection high of 1.2038 and climbed to its highest level since Nov 7 at 1.2044. At time of writing, the pair is trading at 1.2040, recording a 0.12% gain on the day.
Immediate resistance stands at 1.2057, 38.2% Fibo retracement of of the fall from 1.2138 to 1.2007, while next support is seen at 1.2025.
This week, the European Central Bank will hold the last meeting of the year, so euro investors may choose to remain sidelined until then.
EUR/CHF managed to overcome the post-gold proposal rejection high of 1.2038 and climbed to its highest level since Nov 7 at 1.2044. At time of writing, the pair is trading at 1.2040, recording a 0.12% gain on the day.
Immediate resistance stands at 1.2057, 38.2% Fibo retracement of of the fall from 1.2138 to 1.2007, while next support is seen at 1.2025.
This week, the European Central Bank will hold the last meeting of the year, so euro investors may choose to remain sidelined until then.