EUR/CHF Tests Support After Lower Than Expected Cut

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EUR/CHF Tests Support After Lower Than Expected Cut

By Greg Michalowski on April 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The EUR/CHF was supported this morning on the back of comments by SNB Hildenbrand of intervention if the CHF got too strong. This was a point warned about in last nights video commentary. This moved the pair up to the high for the day at 1.5263.

After the ECB announcement the pair corrected to the downside after the upside did not take out the high. The market moved down to the 200 hour MA at the 1.5216 level and rebounded. This level will remain as support today. The break through the upside will continue the momemtum in the pair.

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