25 Mar 2014
EUR/CHF bulls are too shy to claim victory
FXStreet (Moscow) - EUR/CHF is consolidating within a narrow range after opening at 1.2184
EUR/CHF: where from here?
EUR/CHF touched the bespoke resistance of 1.2200 only to retrace lower and close at 1.2184. It was the third attempt at this pivotal level and a bad sign for EUR/CHF bulls. It seems that this level won’t be broken any time soon. From the fundamental point of view we are waiting for SNB annual report to be published at dawn of the European session, though it is unlikely to trigger any meaningful market reaction unless the Head of the Bank say something about the CHF exchange rate. Later during the day the German IFO publishes its business climate index that may pus the single currency lower should it come out below expectations. From the technical point of view, the key focus is still on 1.2200 on the upsideand on 1.2150 on the downside
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2187, with support below at 1.2170, 1.2150 and 1.2133 with resistance above at 1.2207, 1.2224 and 1.2244. Hourly Moving Averages are neutral, with the 200SMA at 1.2184 and the daily 20EMA at 1.2179. Hourly RSI is neutral at 46.
EUR/CHF: where from here?
EUR/CHF touched the bespoke resistance of 1.2200 only to retrace lower and close at 1.2184. It was the third attempt at this pivotal level and a bad sign for EUR/CHF bulls. It seems that this level won’t be broken any time soon. From the fundamental point of view we are waiting for SNB annual report to be published at dawn of the European session, though it is unlikely to trigger any meaningful market reaction unless the Head of the Bank say something about the CHF exchange rate. Later during the day the German IFO publishes its business climate index that may pus the single currency lower should it come out below expectations. From the technical point of view, the key focus is still on 1.2200 on the upsideand on 1.2150 on the downside
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2187, with support below at 1.2170, 1.2150 and 1.2133 with resistance above at 1.2207, 1.2224 and 1.2244. Hourly Moving Averages are neutral, with the 200SMA at 1.2184 and the daily 20EMA at 1.2179. Hourly RSI is neutral at 46.