EUR/CHF is up and shining again

FXStreet (Moscow) - EUR/CHF is rebounding from intraday lows of 1.2186 as EUR is in demand across the board

It’s just Swiss madness

Swissy got excited by positive retail sales that grew 1.0% y/y in February after 0.1% drop in January. Data series is rather volatile, but today’s report shows that Swiss consumers are inclined to go shopping. Good news together with higher that expected CPI published yesterday. Heightened geopolitical risks also support demand on CHF, which is considered to be safe-heaven in trying times. Now that EUR/CHF is below 1.2200 again, bears might become more enthusiastic. the first downside target comes at 1.2170 and followed by 1.2150. The short-term upside will be limited by 1.2200. The cross need to close above that level on daily basis to confirm that the bullish stance is intact.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2209, with support below at 1.2187, 1.2172 and 1.2150 with resistance above at 1.2224, 1.2246 and 1.2261. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2201 and the daily 20EMA at 1.2195. Hourly RSI is bearish at 40.