Forex: EUR/CHF closed below 200-day MA

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Forex: EUR/CHF closed below 200-day MA

FITITOL--> FXstreet.com (Barcelona) - For the first time since early February, the EUR/CHF closed yesterday below the 200-day moving average and is now trading at 1.2015. While some analysts are starting to place sell limit orders, the SNB officials remain defendants of the 1.20 ground.

SNB’s Chairman Thomas Jordan has said again that the central bank is prepared to buy unlimited amounts of Euros to keep the rate above that line to assure price stability in Switzerland despite the better economic outlook.
The KOF Leading Indicator is strengthening for the third month in a row, with April data rising from 0.09 to 0.40. General consensus was pointing to 0.26.

Mataf.net analysts point to resistances at 1.2030, 1.2045 and 1.2065. On the downside, supports might be found at 1.2010, 1.2000 and 1.1985.