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11 Mar 2014
EUR/CHF has stuck in a depressingly narrow range
FXStreet (Moscow) - EUR/CHF has been moving in a tight 10-pip range during Asian hours, waiting for new triggers.
Swissy traders are not afraid of SNB. Not yet.
The Swissy traders obviously did not like the retail sales numbers from Switzerland as CHF weakened across the board. Today there is another important macro report from Switzerland, namely, the industrial production that is expected to have grown 1.0% in January against 0.7% in December. Otherwise the European calendar is pretty empty, so we have only this one and technical factors to define the cross movements during the day. As long as EUR/CHF trades below 1.2200, the bulls cannot sleep well as bears are rather aggressive in their attack at the lower level of the short-term range at 1.2170. Once it is broken, 1.2150 will come into sight.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2181, with support below at 1.2186, 1.2155 and 1.2142 with resistance above at 1.2194, 1.2207 and 1.2200. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2174 and the daily 20EMA at 1.2197. Hourly RSI is neutral at 56.
Swissy traders are not afraid of SNB. Not yet.
The Swissy traders obviously did not like the retail sales numbers from Switzerland as CHF weakened across the board. Today there is another important macro report from Switzerland, namely, the industrial production that is expected to have grown 1.0% in January against 0.7% in December. Otherwise the European calendar is pretty empty, so we have only this one and technical factors to define the cross movements during the day. As long as EUR/CHF trades below 1.2200, the bulls cannot sleep well as bears are rather aggressive in their attack at the lower level of the short-term range at 1.2170. Once it is broken, 1.2150 will come into sight.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2181, with support below at 1.2186, 1.2155 and 1.2142 with resistance above at 1.2194, 1.2207 and 1.2200. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2174 and the daily 20EMA at 1.2197. Hourly RSI is neutral at 56.