EURCHF falls down toward 50% retracement and 200 hour MA
Written July 1, 2009 at 12:25 PM EST by Greg Michalowski
The EURCHF went down and tested the midpoint of the move up from the SNB/BIS intervention on the 24th of June. The 200 hour MA is also at the level. I would expect a good bid down against these levels. The SNB will not want to see the currency sold off so much -especially against the EURO and as a result, the threat of intervention enters the picture again. Risk increases.
Categories: Forex Trading | Tags: EUR/CHF
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