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2 May 2013
Forex: EUR/CHF eyes 1.2260 after ECB delivered
FXstreet.com (Barcelona) - The pair is now printing session highs in the vicinity of 1.2245/50 after the ECB cut the repo rate by 25 bp to 0.50%, leaving the critical deposits rate intact at 0.0% at the same time. Both measures came in broadly in line with market consensus.
Markets will now focus their attention on the press conference by President Mario Draghi due at 1230GMT.
The pair is now up 0.26% at 1.2256 with the next hurdle at 1.2263 (high May 1) ahead of 1.2312 (high Apr.26) and then 1.2349 (high Apr.25).
On the downside, a violation of 1.2214 (MA21d) would bring 1.2151 (MA200d) and finally 1.2086 (low Jan.10).
Markets will now focus their attention on the press conference by President Mario Draghi due at 1230GMT.
The pair is now up 0.26% at 1.2256 with the next hurdle at 1.2263 (high May 1) ahead of 1.2312 (high Apr.26) and then 1.2349 (high Apr.25).
On the downside, a violation of 1.2214 (MA21d) would bring 1.2151 (MA200d) and finally 1.2086 (low Jan.10).