FXstreet.com (Barcelona) -FXstreet.com (Barcelona) - The EUR/CHF has continued its fall to hit 1.04873, a low not seen since April 1 of this year.
The decline of the pair comes despite various non-official interventions by the Swiss Bank to stabilize the price which were foiled, in part, by the general short-term slide of the euro versus other currencies.
This bearish trend may very well experience an upwards reaction, however. According to Valeria Bednarik, FXstreet.com collaborator, we could see some interesting jump in the price of the Swiss franc respect to the euro (as well as other pairs) in the coming days.
Daily charts show rally overextended to the downside, yet trend remains bearish there. Just remember the intervention movements [unofficially by the Swiss Bank] in the past 3 months, which took place the last trading day of the month, said Bednarik, adding that means maybe tomorrow, or next Wednesday, we could see some interesting jump here, during European session.
Resistances lie at 1.4920, 1.4970 and the 1.5010 level, while supports, if we lost 1.4870, lie at the 1.4830 and then 1.4760 area.