EURCHF falls but rebounds off support

Discussion in 'Technical Analysis' started by ForexLive, Mar 10, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Is the SNB looming The SNB does not welcome these types of days where their currency gets stronger because of central bank activity. So although the EURCHF fell on the decision to do a bit of everything from the ECB, the pair has found support against the key support defined b the 200 hour MA and the 100 day MA at the 1.0896-99. Yes, the low did extend to 1.0891 but it was only a brief moment. One could argue buying was the best trade given the risk of counter punch (or intervention) from SNB. Look for traders to buy against 100 day MA should it wander down again.

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