14 Jan 2014
EUR/CHF struggles to return above 1.2300
FXstreet.com (Moscow) - EUR/CHF is consolidating yesterday’s losses during the Asian hours on Tuesday as the cross trades close to its opening level at 1.2298 after moving to the intraday low of 1.2288.
EUR/CHF bulls have hard time at the key resistance
EUR/CHF went down, feeling the pain through the selling pressure in EUR/USD. It looks like the downside was caused by the mix of technical factors, as the cross broke below the short term support level at 1.2320. The support of 1.2300 was passes yesterday, and the cross closed marginally below at 1.2294. In Asia the cross is trying hard to return above 1.2300, if it succeed, the upside may accelerate to the next resistance of 1.2320. From the fundamental point of view, watch for the Eurozone Industrial Production numbers and the US retail sale. These two reports are the main market movers for the cross today. Better than expected Euroarea data may provide short-term support for EUR/CHF.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1/2311, with support below at 1.2278, 1.2256 and 1.2223, with resistance above at 1.2333, 1.2366 and 1.2388. Hourly Moving Averages are bearish, with the 200SMA at 1.2329 and the daily 20EMA at 1.2298. Hourly RSI is neutral at 36.57
EUR/CHF bulls have hard time at the key resistance
EUR/CHF went down, feeling the pain through the selling pressure in EUR/USD. It looks like the downside was caused by the mix of technical factors, as the cross broke below the short term support level at 1.2320. The support of 1.2300 was passes yesterday, and the cross closed marginally below at 1.2294. In Asia the cross is trying hard to return above 1.2300, if it succeed, the upside may accelerate to the next resistance of 1.2320. From the fundamental point of view, watch for the Eurozone Industrial Production numbers and the US retail sale. These two reports are the main market movers for the cross today. Better than expected Euroarea data may provide short-term support for EUR/CHF.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1/2311, with support below at 1.2278, 1.2256 and 1.2223, with resistance above at 1.2333, 1.2366 and 1.2388. Hourly Moving Averages are bearish, with the 200SMA at 1.2329 and the daily 20EMA at 1.2298. Hourly RSI is neutral at 36.57