EUR/CHF has a nap at 1.2140

FXStreet (Moscow) - EUR/CHF is sitting at the opening level of 1.2140 during quiet Asian hours after a deep drop on Thursday

Good luck for bears

EUR/CHF dipped to 1.2135 yesterday as the single currency was badly beaten across the board on the back of the news that Portugal’s largest listed bank suspended trading after a substantial fall of its shares. CHF was supported due to flight to safety as traders fled from risk assets to safe-heaven Swissy. Today the cross may experience additional pressure, but overall activity is going to be low as macroeconomic calendar is next to empty. Also, traders might be wary of pushing EUR/CHF much lower.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2145, with support below at 1.2133, 1.2123 and 1.2111 with resistance above at 1.2155, 1.2167 and 1.2177. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2150 and the daily 20EMA at 1.2162. Hourly RSI is bearish at 42.