14 Mar 2014
Swissy drifts higher while the markets are still quiet
FXStreet (Moscow) - EUR/CHF has retraced from the Asian low of 1.2122 and reached the interim resistance level of 1.2135 on quiet Tokyo trading session
EUR/CHF moves closer to the SNB threshold
EUR/CHF dropped to 1.2126 on Thursday as Swissy was in demand due to investor rush to safe-heaven, while EUR came under pressure in NY session after Draghi’s verbal interventions. From the fundamental point of view we are looking for Swiss Producer price index and Import prices. It is expected to prove that the deflation risks are still a concern for the Swiss economy. Though macroeconomic factors are not in focus. Its speculations and geopolitics that drive the markets nowadays. From the technical point of view, the support of 1.2100 is of great importance. If it is broken, the downside will accelerate to 1.2070, while the Swiss authorities will become nervous. The intraday upside is likely to be limited by 1.2150.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2141, with support below at 1.2113, 1.2096 and 1.2068 with resistance above at 1.2158, 1.2186 and 1.2203. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2173 and the daily 20EMA at 1.2185. Hourly RSI is neutral at 41.
EUR/CHF moves closer to the SNB threshold
EUR/CHF dropped to 1.2126 on Thursday as Swissy was in demand due to investor rush to safe-heaven, while EUR came under pressure in NY session after Draghi’s verbal interventions. From the fundamental point of view we are looking for Swiss Producer price index and Import prices. It is expected to prove that the deflation risks are still a concern for the Swiss economy. Though macroeconomic factors are not in focus. Its speculations and geopolitics that drive the markets nowadays. From the technical point of view, the support of 1.2100 is of great importance. If it is broken, the downside will accelerate to 1.2070, while the Swiss authorities will become nervous. The intraday upside is likely to be limited by 1.2150.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2141, with support below at 1.2113, 1.2096 and 1.2068 with resistance above at 1.2158, 1.2186 and 1.2203. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2173 and the daily 20EMA at 1.2185. Hourly RSI is neutral at 41.