11 Apr 2014
EUR/CHF goes back to test 1.2160 again
FXStreet (Moscow) - EUR/CHF rebounded from 1.2160 area, edging higher to 1.2176, but the momentum faded away, and the pair returned to recent lows again at the moment.
The Swissy bothers the SNB
EUR/CHF had its fourth negative day in a row on Thursday, unaffected by overall rally of the single currency and driven solely by risk sentiments. Poor French industrial production and inflation numbers failed to impress euro-bulls but derailed the European stock market. SNB is worried by the CHF strengthening as the central bank officials confirmed that they will defend their cap on the franc for at least another year. These verbal interventions might support the cross, but they are hardly enough to put it on longer term bullish move. The key resistance is seen at 1.2200, while the support at 1.2160 is still intact with 1.2145 to follow.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2175, with support below at 1.2158, 1.2145 and 1.2128 with resistance above at 1.2188, 1.2205 and 1.2218. Hourly Moving Averages are mixed, with the 200SMA at 1.2197 and the daily 20EMA at 1.2191. Hourly RSI is bearish at 48.
The Swissy bothers the SNB
EUR/CHF had its fourth negative day in a row on Thursday, unaffected by overall rally of the single currency and driven solely by risk sentiments. Poor French industrial production and inflation numbers failed to impress euro-bulls but derailed the European stock market. SNB is worried by the CHF strengthening as the central bank officials confirmed that they will defend their cap on the franc for at least another year. These verbal interventions might support the cross, but they are hardly enough to put it on longer term bullish move. The key resistance is seen at 1.2200, while the support at 1.2160 is still intact with 1.2145 to follow.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2175, with support below at 1.2158, 1.2145 and 1.2128 with resistance above at 1.2188, 1.2205 and 1.2218. Hourly Moving Averages are mixed, with the 200SMA at 1.2197 and the daily 20EMA at 1.2191. Hourly RSI is bearish at 48.