17 Jan 2014
EUR/CHF is quiet after Thursday's losses
FXstreet.com (Moscow) - EUR/CHF has returned above the support of 1.2320 after opening at 1.2317.
EUR/CHF s back above 1.2320
EUR/CHF bears pushed the cross to the strong support level of 1.2320 yesterday as the market reacted negatively to the Eurozone inflation numbers. The data came out lower than anticipated, and the deflation fears started anew. We have the Swiss producer and import prices published later today. According to the forecast, the inflation situation is still shaky (the consensus is 0.1% m/m, -0.4% y/y vs. -0.1% m/m, -0.4% y/y). Though this report is not considered to be a great market mover, weaker data may increase pressure on the CHF, while the overall euro-negative sentiment might drive the cross lower. Support of 1.2300 is still the key. Once it is broken, the downside will accelerate to 1.2300 and then to 1.2276.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2338, with support below at 1.2300, 1.2276 and 1.2238, with resistance above at 1.2362, 1.2400 and 1.2424. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2347 and the daily 20EMA at 1.2310. Hourly RSI is neutral at 44.47.
EUR/CHF s back above 1.2320
EUR/CHF bears pushed the cross to the strong support level of 1.2320 yesterday as the market reacted negatively to the Eurozone inflation numbers. The data came out lower than anticipated, and the deflation fears started anew. We have the Swiss producer and import prices published later today. According to the forecast, the inflation situation is still shaky (the consensus is 0.1% m/m, -0.4% y/y vs. -0.1% m/m, -0.4% y/y). Though this report is not considered to be a great market mover, weaker data may increase pressure on the CHF, while the overall euro-negative sentiment might drive the cross lower. Support of 1.2300 is still the key. Once it is broken, the downside will accelerate to 1.2300 and then to 1.2276.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2338, with support below at 1.2300, 1.2276 and 1.2238, with resistance above at 1.2362, 1.2400 and 1.2424. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2347 and the daily 20EMA at 1.2310. Hourly RSI is neutral at 44.47.