EUR/CHF Daily European Technicals 07/04
04 Jul 2011 02:29 EDT 
By Francis Bray
London (Dow Jones via eFXnews)
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0Rolling 24-hour chart levels:
| Forex Spot | EUR/CHF |
|---|---|
| Spot 0644GMT | 1.2311 |
| 3 Day Trend | Bullish |
| Weekly Trend | Bearish |
| 200 day ma | 1.2849 |
| 3rd Resistance | 1.2485 |
| 2nd Resistance | 1.2400 |
| 1st Resistance | 1.2345 |
| Pivot | 1.2281 |
| 1st Support | 1.2244 |
| 2nd Support | 1.2185 |
| 3rd Support | 1.2100 |
Intraday EUR/CHF: A major recovery is underway, which targets significant resistance in the 1.2400 area. The sharp bull wave off the June 27 reaction low at 1.1808 has scope to test former range lows at 1.2400 that have reverted to resistance, which has become the ceiling of the current range. Corrective weakness will attract support while above 1.2100, which is protected by 1.2244 and 1.2185.
Weekly chart EUR/CHF trend: Bearish.
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