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2 Apr 2014
EUR/CHF is rangebound with bullish bias
FXStreet (Moscow) - EUR/CHF reached the Asian high at 1.2191 and entered a consolidation phase at current levels of 1.2185.
EUR/CHF bulls want to come back to 1.2200
EUR/CHF recovered on Tuesday, but the improvement was too small to attract attention. Though the hourly chart demonstrates a neat upside trend from Monday’s low at 1.2169. The trend line is at 1.2184 and while the cross is above it the bulls have a chance to get back to 1.2200. From the fundamental point of view, the key risk event for the cross is related with ECB’s Constancio speech and ECOFIN ministers comments. If they sound dovish enough, the single currency will be pressed to the downside across the board.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2183, with support below at 1.2175, 1.2165 and 1.2157 with resistance above at 1.2193, 1.2201 and 1.2211. Hourly Moving Averages are mixed, with the 200SMA at 1.2190 and the daily 20EMA at 1.2184. Hourly RSI is neutral at 52.
EUR/CHF bulls want to come back to 1.2200
EUR/CHF recovered on Tuesday, but the improvement was too small to attract attention. Though the hourly chart demonstrates a neat upside trend from Monday’s low at 1.2169. The trend line is at 1.2184 and while the cross is above it the bulls have a chance to get back to 1.2200. From the fundamental point of view, the key risk event for the cross is related with ECB’s Constancio speech and ECOFIN ministers comments. If they sound dovish enough, the single currency will be pressed to the downside across the board.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2183, with support below at 1.2175, 1.2165 and 1.2157 with resistance above at 1.2193, 1.2201 and 1.2211. Hourly Moving Averages are mixed, with the 200SMA at 1.2190 and the daily 20EMA at 1.2184. Hourly RSI is neutral at 52.