Offers ahead of options at 1.2300 are capping the pair for now and there’s further offers at 1.2310 should we break through. 1.2310 also contains the 200 dma which largely contained the rises from the low 1.22’s. Above there is the 55 dma at 1.2323 then the 100 dma at 1.2343 so theres plenty in the way of tech resistance on the way up. The top so far at 1.2294 also coincides with the 100 H4 ma.
EUR/CHF daily chart 08 10 2013
Down below bids are seen around 1.2250 with strong tech support at 1.2240/45.
Later on today at 16.30 gmt, SNB top bod Thomas Jordan speaks in Washington on “Reconciling Switzerland’s minimum exchange rate and current account surplus”. I shouldn’t think we’ll get anything of note from the speech and I’m not sure if there is a Q&A session but we’ll bring you the low down anyway.
