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19 May 2014
EUR/CHF is not ready to go much higher yet
FXStreet (Moscow) - EUR/CHF retraced from Asian high of 1.2221 and settled at current level of 1.2216 ahead of European opening.
How to get rid of 1.2200 addiction
It was a positive week for EUR/CHF as the cross managed to finish it «substantially" above the magic level of 1.2200 despite EUR selling across the board. EUR/CHF has confirmed its nascent bullish trend from the beginning of March so far, though wee need to see the rise above late March high at 1.2247 to get additional confirmation. Marcroeconomic calendar is empty today, only Merch and Coeure are scheduled to speak later during European hours, but they are unlikely to say something new and deviant from Draghi’s ideas aired early in May. Thus the cross will be influenced by speculative flows. Keep an eye at European stock market opening as it is positively correlated with the cross. The key support level for today is 1.2210 followed by 1.2200. The resistance is seen at 1.2222/24.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2218, with support below at 1.2211, 1.2196 and 1.2189 with resistance above at 1.2233, 1.2240 and 1.2255. Hourly Moving Averages are bullish, with the 200SMA at 1.2198 and the daily 20EMA at 1.2199. Hourly RSI is bullish at 56
How to get rid of 1.2200 addiction
It was a positive week for EUR/CHF as the cross managed to finish it «substantially" above the magic level of 1.2200 despite EUR selling across the board. EUR/CHF has confirmed its nascent bullish trend from the beginning of March so far, though wee need to see the rise above late March high at 1.2247 to get additional confirmation. Marcroeconomic calendar is empty today, only Merch and Coeure are scheduled to speak later during European hours, but they are unlikely to say something new and deviant from Draghi’s ideas aired early in May. Thus the cross will be influenced by speculative flows. Keep an eye at European stock market opening as it is positively correlated with the cross. The key support level for today is 1.2210 followed by 1.2200. The resistance is seen at 1.2222/24.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2218, with support below at 1.2211, 1.2196 and 1.2189 with resistance above at 1.2233, 1.2240 and 1.2255. Hourly Moving Averages are bullish, with the 200SMA at 1.2198 and the daily 20EMA at 1.2199. Hourly RSI is bullish at 56