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31 Jul 2014
EUR/CHF: too early to rest on laurels as 1.2170 resistance in unbroken
FXStreet (Moscow) - EUR/CHF is moving within a 6-pip range limited by 1.2174 on the upside and 1.2168 on the downside, waiting for new catalysts.
Here we go again
EUR/CHF showed its contrarian nature once again. The cross had another definitely bullish day, despite EUR selling against USD. This time however EUR was on the bullish move in many crosses, which may be explained by better risk profile and USD. From the technical point of view, EUR/CHF has settled at an important level of 1.2170 that served both as resistance and support on several occasions. If it is broken. the upside may be extended to 1.2200, while the downside correction is likely to be capped by 1.2150.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2158, with support below at 1.2149, 1.2138 and 1.2129 with resistance above at 1.2169, 1.2178 and 1.2189. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2152 and the daily 20EMA flat at 1.2153. Hourly RSI is bullish at 68.
Here we go again
EUR/CHF showed its contrarian nature once again. The cross had another definitely bullish day, despite EUR selling against USD. This time however EUR was on the bullish move in many crosses, which may be explained by better risk profile and USD. From the technical point of view, EUR/CHF has settled at an important level of 1.2170 that served both as resistance and support on several occasions. If it is broken. the upside may be extended to 1.2200, while the downside correction is likely to be capped by 1.2150.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2158, with support below at 1.2149, 1.2138 and 1.2129 with resistance above at 1.2169, 1.2178 and 1.2189. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2152 and the daily 20EMA flat at 1.2153. Hourly RSI is bullish at 68.