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13 Mar 2014
EUR/CHF satisfied its curiosity about 1.2170 area
FXStreet (Moscow) - EUR/CHF after a period of consolidation in a tight range early on Thursday, managed to reach 1.2167 high from 1.2152 at the moment, but soon retraced back to 1.2160 area.
Swiss safety is still highly valued
EUR/CHF spent the morning testing the support of 1.2150, but rebounded slightly higher in the end of the day due to EUR growth across the board. On hourly charts it is obvious that the cross is moving within a clear downside trend and the bulls need to break above the sloping trend line at 1.2160 for the upside to accelerate on the intraday basis. That’s why the recent jump to 1.2167 high was not sustanined. The Swissy has been rather strong recently due to anti-risk sentiments and geopolitical fever. As there are no macroecomonic publications from either Eurozone or Switzerland scheduled for today, so the fate of the cross will be shaped solely by speculative and technical factors. New sights of Ukrainian conflict escalation will push EUR/CHF lower. The first support comes at 1.2150 and followed by 1.2130. While the resistance is seen at 1.2170. If it is broken, the upside will accelerate to 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2159, with support below at 1.2143, 1.2134 and 1.2118 with resistance above at 1.2168, 1.2284 and 1.2193. Hourly Moving Averages are bearish, with the 200SMA at 1.2171 and the daily 20EMA at 1.2191. Hourly RSI is neutral at 41.
Swiss safety is still highly valued
EUR/CHF spent the morning testing the support of 1.2150, but rebounded slightly higher in the end of the day due to EUR growth across the board. On hourly charts it is obvious that the cross is moving within a clear downside trend and the bulls need to break above the sloping trend line at 1.2160 for the upside to accelerate on the intraday basis. That’s why the recent jump to 1.2167 high was not sustanined. The Swissy has been rather strong recently due to anti-risk sentiments and geopolitical fever. As there are no macroecomonic publications from either Eurozone or Switzerland scheduled for today, so the fate of the cross will be shaped solely by speculative and technical factors. New sights of Ukrainian conflict escalation will push EUR/CHF lower. The first support comes at 1.2150 and followed by 1.2130. While the resistance is seen at 1.2170. If it is broken, the upside will accelerate to 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2159, with support below at 1.2143, 1.2134 and 1.2118 with resistance above at 1.2168, 1.2284 and 1.2193. Hourly Moving Averages are bearish, with the 200SMA at 1.2171 and the daily 20EMA at 1.2191. Hourly RSI is neutral at 41.