FXstreet.com (Barcelona) - The Euro has collapsed in the last hour against the Dollar after the possible SNB intervention on the Swissy with the CHF pushing bearish pressure to the EUR/USD. The pair has fallen around 60 pips from 1.4852 to reach intra-day low at 1.4795.
Currently the pair is trading around 1.4805/15, 0.20% below today's opening price action at 1.4835.
According to Valeria Bednarik, FXstreet.com collaborator, the best pair to trade now is EUR/USD as it is breaking lower: After Swissy spike dragging Euro down (nobody confirm and intervention movement by SNB, but well, believe me it is) and with pair breaking to the downside the small 4 hours channel, seems a good option for the last day of the month. Confirmations and acceleration under 1.4770, could give a clean rally to the 1.4730 area, and further to retest the 1.4700 key level.