7 Feb 2014
EUR/CHF has frozen in a tight range
FXStreet (Moscow) - EUR/CHF is consolidating early in Asia as the cross is nearly glued to the opening level of 1.2236.
CHF needs a rest after volatile movements
Swiss frank moved substantially higher against the USD, but it was much more timid against the single currency as EUR also grew across the board on less dovish than expected comments from Draghi. As a resent the cross finished the day slightly higher, but failed even to reach the interim resistance at 1.2250-50. EUR/CHF remains rangebound as long as it stays below the above mentioned area. Swiss macro economic numbers were mixed (better than expected consumer confidence came along rather weak trade balance), through the traders appeared to be more interested in EUR-related events. Let’s see whether today’s Swiss retail sales or German trade balance and industrial production data trigger any movements. Watch out for the resistance of 1.2250 followed by 1.2267. The support comes at 1.2220 and 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2232, with support below at 1.2219, 1.2197 and 1.2184, with resistance above at 1.2254, 1.2267 and 1.2289. Hourly Moving Averages are bullish, with the 200SMA at 1.2235 and the daily 20EMA at 1.2264. Hourly RSI is neutral at 62.
CHF needs a rest after volatile movements
Swiss frank moved substantially higher against the USD, but it was much more timid against the single currency as EUR also grew across the board on less dovish than expected comments from Draghi. As a resent the cross finished the day slightly higher, but failed even to reach the interim resistance at 1.2250-50. EUR/CHF remains rangebound as long as it stays below the above mentioned area. Swiss macro economic numbers were mixed (better than expected consumer confidence came along rather weak trade balance), through the traders appeared to be more interested in EUR-related events. Let’s see whether today’s Swiss retail sales or German trade balance and industrial production data trigger any movements. Watch out for the resistance of 1.2250 followed by 1.2267. The support comes at 1.2220 and 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2232, with support below at 1.2219, 1.2197 and 1.2184, with resistance above at 1.2254, 1.2267 and 1.2289. Hourly Moving Averages are bullish, with the 200SMA at 1.2235 and the daily 20EMA at 1.2264. Hourly RSI is neutral at 62.