15 Apr 2014
EUR/CHF bulls are regaining ground
FXStreet (Moscow) - EUR/CHF is growing early in Asia as the cross managed to take off from intraday lows at 1.2155 and moved to current levels of 1.2164.
What will define the Swissy's fate?
EUR/CHF dipped to 1.2140 low yesterday and started to grow again as market players believe in SNB interventions more than in ECB actions. Switzerland publishes the Producer and Import Prices later today. We know that inflation data is the sore issue for Swiss economy as deflation is already at its doorsteps. Negative figures might increase the downside pressure on the CHF and speed up the upside correction of EUR/CHF, though the cross is unlikely to grow higher than 1.2180 due to bearish EUR sentiments.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2153, with support below at 1.2144, 1.2130 and 1.2121 with resistance above at 1.2167, 1.2176 and 1.2190. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2192 and the daily 20EMA at 1.2185. Hourly RSI is bullish at 60.
What will define the Swissy's fate?
EUR/CHF dipped to 1.2140 low yesterday and started to grow again as market players believe in SNB interventions more than in ECB actions. Switzerland publishes the Producer and Import Prices later today. We know that inflation data is the sore issue for Swiss economy as deflation is already at its doorsteps. Negative figures might increase the downside pressure on the CHF and speed up the upside correction of EUR/CHF, though the cross is unlikely to grow higher than 1.2180 due to bearish EUR sentiments.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2153, with support below at 1.2144, 1.2130 and 1.2121 with resistance above at 1.2167, 1.2176 and 1.2190. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2192 and the daily 20EMA at 1.2185. Hourly RSI is bullish at 60.