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Forex: EUR/CHF surge likely to target 1.2500 – BK Asset Management

By FXstreet.com,  January 15, 2013, 10:00:00 PM EDT

FXstreet.com (San Francisco) - After advancing for a fourth day and finding sellers around the 1.2400 handle (13-month high), EUR/CHF last trades at 1.2370 as it trades a 1.2360-1.2401 range intraday. At current levels, spot is recording a 2.5% gain so far in 2013.

From Boris Schlossberg, Managing Director and Founding Partner at BK Asset Management: "The rally in EURCHF has been exceedingly sharp indicating that it is being driven by short covering flows. However, the breakout appears to be real as investor sentiment has clearly shifted and after some consolidation the pair is likely to continue its rally targeting 1.2500 over the medium term horizon."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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