7 Apr 2014
EUR/CHF holding on above 1.2200
FXStreet (Edinburgh) - The EUR/CHF is now drawing a consolidation pattern in the 1.2210/15 area on Monday, extending the correction lowe from last week's peaks
near 1.2250.
EUR/CHF apathetic after data
The cross remained indifferent despite the postive data from the Swiss inflation figures during March, where consumer prices rose 0.4% MoM,
taking the annual variation to 0.0%, both prints surpassing estimates. Further data showed that the FX Reserves climbed to CHF 4.37 billion in
March, up from February''s CHF 433.5 billion.
What price levels and patterns have to be considered?
With spot trading at 1.2216, we can see next resistance ahead at 1.2219 (Weekly Classic PP), 1.2222 (Hourly 20 EMA), 1.2228 (Daily Open), 1.2231 (Daily High) and 1.2233 (Daily Classic PP). Support below can be found at 1.2216 (Daily Classic S1), 1.2215 (Yesterday's Low), 1.2212 (Daily Low), 1.2208 (Hourly 100 SMA) and 1.2202 (Hourly 200 SMA). Further techs data show that the RSI is in neutral territory at 42.10, down from it’s last hourly close at 47.76, while ADX is ranging above 30 at 15.50, down from 16.17 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 61.12.
near 1.2250.
EUR/CHF apathetic after data
The cross remained indifferent despite the postive data from the Swiss inflation figures during March, where consumer prices rose 0.4% MoM,
taking the annual variation to 0.0%, both prints surpassing estimates. Further data showed that the FX Reserves climbed to CHF 4.37 billion in
March, up from February''s CHF 433.5 billion.
What price levels and patterns have to be considered?
With spot trading at 1.2216, we can see next resistance ahead at 1.2219 (Weekly Classic PP), 1.2222 (Hourly 20 EMA), 1.2228 (Daily Open), 1.2231 (Daily High) and 1.2233 (Daily Classic PP). Support below can be found at 1.2216 (Daily Classic S1), 1.2215 (Yesterday's Low), 1.2212 (Daily Low), 1.2208 (Hourly 100 SMA) and 1.2202 (Hourly 200 SMA). Further techs data show that the RSI is in neutral territory at 42.10, down from it’s last hourly close at 47.76, while ADX is ranging above 30 at 15.50, down from 16.17 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 61.12.