7 Apr 2014
EUR/CHF has recovered from intraday low of 1.2212
FXStreet (Moscow) - EUR/CHF recovered from the Asian low of 1.2212 (this level coincide with the short-term upside trend line). but the bearish pressure is still felt.
Swiss inflation data is in focus
EUR/CHF has been steadily growing three weeks in a row now. More importantly, the cross managed to stay above the pivotal level of 1.2200 despite the substantial drop on Friday from intraday highs caused by EUR sell-off. It is the first weekly close above this level since the end of January that allows a caution suggestion that EUR/CHF is about to start the longer-term upside trend. Today keep your eyes peeled for Swiss inflation data as it may show that disinflation process is gathering traction. Though EUR/CHF is more sensitive to risk sentiments and EUR-related data, this report may decrease the downside pressure on the cross.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2233, with support below at 1.2216, 1.2197 and 1.2180 with resistance above at 1.2252, 1.2269 and 1.2288. Hourly Moving Averages are mixed, with the 200SMA at 1.2201 and the daily 20EMA at 1.2194. Hourly RSI is neutral at 39.
Swiss inflation data is in focus
EUR/CHF has been steadily growing three weeks in a row now. More importantly, the cross managed to stay above the pivotal level of 1.2200 despite the substantial drop on Friday from intraday highs caused by EUR sell-off. It is the first weekly close above this level since the end of January that allows a caution suggestion that EUR/CHF is about to start the longer-term upside trend. Today keep your eyes peeled for Swiss inflation data as it may show that disinflation process is gathering traction. Though EUR/CHF is more sensitive to risk sentiments and EUR-related data, this report may decrease the downside pressure on the cross.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2233, with support below at 1.2216, 1.2197 and 1.2180 with resistance above at 1.2252, 1.2269 and 1.2288. Hourly Moving Averages are mixed, with the 200SMA at 1.2201 and the daily 20EMA at 1.2194. Hourly RSI is neutral at 39.