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26 Feb 2014
1.2200 pulls EUR/CHF like a magnet
FXStreet (Moscow) - EUR/CHF is rangebound just below the pivotal level of 1.2200 after moving from intraday low at 1.2186.
EUR/CHF is at the crossroads
EUR/CHF finished Tuesday well below 1.2200 as the risk aversive sentiments had gipped the markets and supported the demand on so called safe heaven currencies. As we have already mentioned, traders do not hurry to buy Swissy as the SNB on the alert for excessive frank strengthening. They won’t let it go too high. Today we are waiting for the UBS consumer indicator to be published. It improved substantially in December, so if the January numbers show the positive dynamic, CHF may get a boost across the board. From the technical point of view, 1.2200 is the key resistance. If the cross manages to close above this level, 1.2210 will come into sight. The support comes at current Asian lows of 1.2186.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2197, with support below at 1.2181, 1.2171 and 1.2155 with resistance above at 1.2207, 1.2223 and 1.2233. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2210 and the daily 20EMA at 1.2227. Hourly RSI is neutral at 44.
EUR/CHF is at the crossroads
EUR/CHF finished Tuesday well below 1.2200 as the risk aversive sentiments had gipped the markets and supported the demand on so called safe heaven currencies. As we have already mentioned, traders do not hurry to buy Swissy as the SNB on the alert for excessive frank strengthening. They won’t let it go too high. Today we are waiting for the UBS consumer indicator to be published. It improved substantially in December, so if the January numbers show the positive dynamic, CHF may get a boost across the board. From the technical point of view, 1.2200 is the key resistance. If the cross manages to close above this level, 1.2210 will come into sight. The support comes at current Asian lows of 1.2186.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2197, with support below at 1.2181, 1.2171 and 1.2155 with resistance above at 1.2207, 1.2223 and 1.2233. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2210 and the daily 20EMA at 1.2227. Hourly RSI is neutral at 44.