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by ForexNewsNow Team on December 23, 2010

EUR/CHF holds after hitting all-time low yesterday

NEW YORK (Forex News Now) – The euro held its own against the Swiss franc on Thursday after hitting an all-time low the previous day.

In early European currency market trading, EUR/CHF traded at 1.2469, down just 0.05% for the day.

The euro slid to its lowest level against the swissy for a sixth consecutive day on Wednesday, and has fallen around 16 percent this year, as fears remain over the ongoing euro zone debt crisis.

According to EUR/CHF analysis, the euro was likely to touch support around an all-time low of 1.2319, and to encounter resistance around 1.2592.

Trading in the currency pair was expected to slow down as the Christmas and holiday period approached.

Elsewhere, the euro plummeted against the yen: EUR/JPY hit 108.73, down 0.67% in intraday analysis.

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