Back
27 Mar 2014
EUR/CHF is below 1.2200. Again.
FXStreet (Moscow) - EUR/CHF is within a whisker of an important support area of 1.2180.
EUR/CHF let the chance slip through their fingers
EUR/CHF bulls backtracked on their intends to get the cross to new multi-week highs as the cross spiraled down during European hours after a short period of consolidation at the pivotal level of 1.2200. EUR/CHF reached the intraday low at 1.2184, while a cluster of fresh bids is spotted at 1.2180 with stops below. This area might cap the short-term downside, if there are no shocking news from geopolitical front that may trigger rush to safety. Though, if the above said level is broken, the downside may accelerate to this week’s low at 1.2167. Now that the European macro event risks are behind us, the EUR/CHF is likely to be driven by speculative and technical factors.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2208, with support below at 1.2181, 1.2164 and 1.2137 with resistance above at 1.2225, 1.2252 and 1.2269. Hourly Moving Averages are mixed, with the 200SMA at 1.2178 and the daily 20EMA at 1.2183. Hourly RSI is neutral at 44.
EUR/CHF let the chance slip through their fingers
EUR/CHF bulls backtracked on their intends to get the cross to new multi-week highs as the cross spiraled down during European hours after a short period of consolidation at the pivotal level of 1.2200. EUR/CHF reached the intraday low at 1.2184, while a cluster of fresh bids is spotted at 1.2180 with stops below. This area might cap the short-term downside, if there are no shocking news from geopolitical front that may trigger rush to safety. Though, if the above said level is broken, the downside may accelerate to this week’s low at 1.2167. Now that the European macro event risks are behind us, the EUR/CHF is likely to be driven by speculative and technical factors.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2208, with support below at 1.2181, 1.2164 and 1.2137 with resistance above at 1.2225, 1.2252 and 1.2269. Hourly Moving Averages are mixed, with the 200SMA at 1.2178 and the daily 20EMA at 1.2183. Hourly RSI is neutral at 44.