16 Jan 2014
EUR/CHF bulls attack 1.2370 resistance, 1.2400 is in sight
FXstreet.com (Moscow) - EUR/CHF is moving higher during Tokyo hours as the cross opened at 1.2345 and tried to move above the resistance zone of 1.2370.
EUR/CHF is eager to get to new highs
EUR/CHF is trying to go past the threshold zone of 1.2360-70. The Swiss retail sales data came much stronger than expected (4.2% agains forecasted 1.7%), but this failed to impress the EUR/CHF bulls as the cross weakened slightly right after publication and quickly resumed its upside. Today the Eurozone inflation data will be in focus. Dragi and Co has been trying to make an impression that the low inflation numbers of the previous two months are not a problem. So today we will learn if they were convincing enough. The final CPI is expected to come out at 0.9% against 0.7% in November. Still far away from the ECB inflation target and dangerously close to the deflation zone. Numbers in line or better than the forecast may become a catalyst for the Euro rally. In this case EUR/CHF bulls will have a good chance to pouch the cross above the key zone. Next resistance comes at 1.2400. On the downside the support lies at 1.2320.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2358, with support below at 1.2344, 1.2326 and 1.2312, with resistance above at 1.2376, 1.2390 and 1.2408. Hourly Moving Averages are bullish, with the 200SMA at 1.2335 and the daily 20EMA at 1.2308. Hourly RSI is neutral at 67.87
EUR/CHF is eager to get to new highs
EUR/CHF is trying to go past the threshold zone of 1.2360-70. The Swiss retail sales data came much stronger than expected (4.2% agains forecasted 1.7%), but this failed to impress the EUR/CHF bulls as the cross weakened slightly right after publication and quickly resumed its upside. Today the Eurozone inflation data will be in focus. Dragi and Co has been trying to make an impression that the low inflation numbers of the previous two months are not a problem. So today we will learn if they were convincing enough. The final CPI is expected to come out at 0.9% against 0.7% in November. Still far away from the ECB inflation target and dangerously close to the deflation zone. Numbers in line or better than the forecast may become a catalyst for the Euro rally. In this case EUR/CHF bulls will have a good chance to pouch the cross above the key zone. Next resistance comes at 1.2400. On the downside the support lies at 1.2320.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2358, with support below at 1.2344, 1.2326 and 1.2312, with resistance above at 1.2376, 1.2390 and 1.2408. Hourly Moving Averages are bullish, with the 200SMA at 1.2335 and the daily 20EMA at 1.2308. Hourly RSI is neutral at 67.87