4 Apr 2014
EUR/CHF grinds its way to the resistance of 1.2240
FXStreet (Moscow) - EUR/CHF is more than 10 pips higher at 1.2236 after opening at 1.2223
EUR/CHF tries to prove its bullish stance
Now that 1.2200 is completely out of the way, EUR/CHF seems to be unstoppable on its upside quest. It is worth mentioning that 1.2200 served as the firm support line and was tested by the cross on several occasions during the second half of 2013, it means that we are probably on the verge of larger upside movement. Though there are some fundamental considerations that may become a fat fly in the ointment: should the single currency start spiraling down on the back of positive US macro statistics and ECB easing speculations, EUR/CHF upside will be limited. The closest resistance is seen at 1.2240 and followed by 1.2265. The support comes at 1.2200 and at 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2218, with support below at 1.2200, 1.2186 and 1.2158 with resistance above at 1.2242, 1.2260 and 1.2284. Hourly Moving Averages are bullish, with the 200SMA at 1.2199 and the daily 20EMA at 1.2190. Hourly RSI is neutral at 65.
EUR/CHF tries to prove its bullish stance
Now that 1.2200 is completely out of the way, EUR/CHF seems to be unstoppable on its upside quest. It is worth mentioning that 1.2200 served as the firm support line and was tested by the cross on several occasions during the second half of 2013, it means that we are probably on the verge of larger upside movement. Though there are some fundamental considerations that may become a fat fly in the ointment: should the single currency start spiraling down on the back of positive US macro statistics and ECB easing speculations, EUR/CHF upside will be limited. The closest resistance is seen at 1.2240 and followed by 1.2265. The support comes at 1.2200 and at 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2218, with support below at 1.2200, 1.2186 and 1.2158 with resistance above at 1.2242, 1.2260 and 1.2284. Hourly Moving Averages are bullish, with the 200SMA at 1.2199 and the daily 20EMA at 1.2190. Hourly RSI is neutral at 65.