EURCHF Still has Legs

by Ashraf Laidi

Apr 9, 2009 13:43

EURCHF rally has more legs as the franc-selling intervention is reminded by the SNB and the Euro licks wounds from another credit downgrade (Ireland). But an expected rejuvenation of risk appetite ahead of the Easter break could bolster EURCHF back to 1.53 and onto TL resistance of 1.5350. Holding above the 100-day MA was a positive sign, while the stabilization of stochastics at the 70.87 paves the way for fresh momentum.

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