21 Jul 2014
EUR/CHF bumped onto 1.2150 resistance. Again!
FXStreet (Moscow) - EUR/CHF opened at 1.2144 and made its way higher to 1.2151 in Asia on Monday. The cross has reached an important resistance thus further upside might be limited.
EUR/CHF is in recovery mode
Daily EUR/CHF charts show a clear upside trend from the trough of 1.2130, but now that the cross reached 1.2150 resistance the upside movement might stall. If this is the case, EUR/CHF could spend some more time in a range limited by 1.2130 on the downside and 1.2150 on the upside. Macroeconomic calendar is light on Monday, thus the break through catalysts might come from geopolitical battle fields as CHF crosses are highly sensitive to risk sentiments.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.21347, with support below at 1.2140, 1.2129 and 1.2122 with resistance above at 1.2158, 1.2165 and 1.2176. Hourly Moving Averages are bullish, with the 200SMA at 1.2148 and the daily 20EMA at 1.2155. Hourly RSI is bullish at 64.
EUR/CHF is in recovery mode
Daily EUR/CHF charts show a clear upside trend from the trough of 1.2130, but now that the cross reached 1.2150 resistance the upside movement might stall. If this is the case, EUR/CHF could spend some more time in a range limited by 1.2130 on the downside and 1.2150 on the upside. Macroeconomic calendar is light on Monday, thus the break through catalysts might come from geopolitical battle fields as CHF crosses are highly sensitive to risk sentiments.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.21347, with support below at 1.2140, 1.2129 and 1.2122 with resistance above at 1.2158, 1.2165 and 1.2176. Hourly Moving Averages are bullish, with the 200SMA at 1.2148 and the daily 20EMA at 1.2155. Hourly RSI is bullish at 64.