1 May 2014
EUR/CHF is getting closer to 1.2200. Again
FXStreet (Moscow) - EUR/CHF is under pressure as the cross opened the day at 1.2208 and moved slightly lower to 1.2203
Is there anyone not tired with this 1.2200 story?
EUR/CHF climbed above 1.2200 and finished Wednesday at 1.2207. So what of that? We have seen this dance around pivot millions of times since the start of the year as the cross has issues with moving too far away from this magnetic level. It is more probable than not that EUR/CHF will continue consolidating within a narrow range, at least until there is another abrupt change in risk sentiments. As most European markets are closed today, no harsh movements are expected. Keep an eye at 1.2190 support level as break below may extend the downside. On the upside the resistance lies at 1.2210/15
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2204, with support below at 1.2195, 1.2183 and 1.2174 with resistance above at 1.2216, 1.2225 and 1.2237. Hourly Moving Averages are mostly
bullish, with the 200SMA at 1.2201 and the daily 20EMA at 1.2195. Hourly RSI is bullish at 52
Is there anyone not tired with this 1.2200 story?
EUR/CHF climbed above 1.2200 and finished Wednesday at 1.2207. So what of that? We have seen this dance around pivot millions of times since the start of the year as the cross has issues with moving too far away from this magnetic level. It is more probable than not that EUR/CHF will continue consolidating within a narrow range, at least until there is another abrupt change in risk sentiments. As most European markets are closed today, no harsh movements are expected. Keep an eye at 1.2190 support level as break below may extend the downside. On the upside the resistance lies at 1.2210/15
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2204, with support below at 1.2195, 1.2183 and 1.2174 with resistance above at 1.2216, 1.2225 and 1.2237. Hourly Moving Averages are mostly
bullish, with the 200SMA at 1.2201 and the daily 20EMA at 1.2195. Hourly RSI is bullish at 52