29 Apr 2014
EUR/CHF is afraid to go too far from opening level
FXStreet (Moscow) - EUR/CHF sleeps heavily at its opening levels, let’s hope European traders will wake it up.
EUR/CHF follows the stocks
EUR/CHF touched lows at 1.2170 during European hours on Monday, but managed to reverse losses and finish the day with marginal gains at 1.2192. The pivotal level of 1.2200 is within reach, but as the saying goes, it is not as easy as it looks. EUR/CHF rebound was caused by positive European stock indices dynamics that reduced the upside pressure on safe-heaven CHF. Today we are waiting for important inflation statistics from Germany, but keep in mind that EUR/CHF has been more receptive to risk sentiments lately. The cross is strongly correlated with stock markets, so we will need to see a substantial risk assets rally to get it above 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2187, with support below at 1.2176, 1.2159 and 1.2148 with resistance above at 1.2204, 1.2215 and 1.2233. Hourly Moving Averages are mixed, with the 200SMA at 1.2197 and the daily 20EMA at 1.2193. Hourly RSI is bullish at 57
EUR/CHF follows the stocks
EUR/CHF touched lows at 1.2170 during European hours on Monday, but managed to reverse losses and finish the day with marginal gains at 1.2192. The pivotal level of 1.2200 is within reach, but as the saying goes, it is not as easy as it looks. EUR/CHF rebound was caused by positive European stock indices dynamics that reduced the upside pressure on safe-heaven CHF. Today we are waiting for important inflation statistics from Germany, but keep in mind that EUR/CHF has been more receptive to risk sentiments lately. The cross is strongly correlated with stock markets, so we will need to see a substantial risk assets rally to get it above 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2187, with support below at 1.2176, 1.2159 and 1.2148 with resistance above at 1.2204, 1.2215 and 1.2233. Hourly Moving Averages are mixed, with the 200SMA at 1.2197 and the daily 20EMA at 1.2193. Hourly RSI is bullish at 57