14 Jul 2014
EUR/CHF takes off from 1.2130 bottom
FXStreet (Moscow) - EUR/CHF is on recovery mode as the cross started the day at 1.2136 and moved to Asian high of 1.2141
Bears keep their heads down
Looks like EUR/CHF bears reached their limit as the cross failed to break below the bottom formed in the beginning of July. Are we on the verge of stronger upside correct? Will 1.2200 is going to become the main attraction once again? Answers to these questions depend on risk sentiments and overall EUR dynamics. ECB President Draghi is speaking in Strasbourg today, though we do not expect any sensations from him. Investors might be cations, waiting for new hints about European version of QE and for comments on the latest Portugal issues. Form the technical point of view keep an eye at 1.2145/50 resistance zone; the downside is likely to be limited by 1.2135/30 support
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2141, with support below at 1.2134, 1.2128 and 1.2121 with resistance above at 1.2147, 1.2154 and 1.2160. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2150 and the daily 20EMA at 1.2160. Hourly RSI is bearish at 48.
Bears keep their heads down
Looks like EUR/CHF bears reached their limit as the cross failed to break below the bottom formed in the beginning of July. Are we on the verge of stronger upside correct? Will 1.2200 is going to become the main attraction once again? Answers to these questions depend on risk sentiments and overall EUR dynamics. ECB President Draghi is speaking in Strasbourg today, though we do not expect any sensations from him. Investors might be cations, waiting for new hints about European version of QE and for comments on the latest Portugal issues. Form the technical point of view keep an eye at 1.2145/50 resistance zone; the downside is likely to be limited by 1.2135/30 support
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2141, with support below at 1.2134, 1.2128 and 1.2121 with resistance above at 1.2147, 1.2154 and 1.2160. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2150 and the daily 20EMA at 1.2160. Hourly RSI is bearish at 48.