The single currency is testing the psychologically important level of 1.32 against Swiss franc. Analysts at UBS say that this resistance seems to be rather strong and euro will have many difficulties in getting higher, supported though by Thursday’s advance.

The specialists note that note that the pair EUR/CHF is affected, on the one hand, by the concerns about the euro zone’s debt crisis and, on the other hand, by the loose Swiss National Bank monetary policy which is widening money-market rate differentials between the euro area’s and Switzerland’s money markets.



Chart. H1 EUR/CHF

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