© Dukascopy Bank SA
The pair of two European currencies recently has started to demonstrate some resistance to the downside pressure. The instrument refused to retreat after a stab to the upper limit of the channel; it started to vacillate slightly below this important line. According to the SWFX data, the pair is in trader's favour – more than two thirds of them hold long positions, implying that we may see a EUR/CHF appreciation before long.
© Dukascopy Bank SA