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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/CHF - Increasing Selling Pressures

EUR/CHF is digesting the recent massive selloff. The recent succession of lower highs suggests increasing selling pressures. An hourly support lies at 0.9848, while a key support stands at 0.9715. Hourly resistances can be found at 1.0137 (21/01/2015 high) and 1.0250.

The EUR/CHF is again a free-floating currency and has declined to uncharted water. With the upcoming ECB's decision on 22 January, persistent selling pressures are likely to remain on EUR/CHF. The 15 January low at 0.8517 is a key support, which should hold in the coming months. A closer key support stands at 0.9715.

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