Tuesday, September 22, 2009

Forex: EUR/GBP holds near 0.8900

FXstreet.com (Córdoba) – The Euro finished with strong gains against the Swiss Franc and the Pound on Tuesday. EUR/GBP broke during the European session a key resistance at 0.8840 and rose to 0.8895, posting the highest price since May 15. At 0.8900 the pair has an important psychological level to break and above the next resistance lies at 0.8935 and above at 0.9000. The par has risen two hundred pips in the last two days and broke an important downtrend line.

Against the Swiss Franc the Euro also rose but at a slower face. EUR/CHF broke above 1.5150 and rose to 1.5170, which now holds as a strong resistance zone. The pair rose for the first time after five days. The Euro is still facing a downside momentum but is getting away from the 1.5100 zone.

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