29 May 2014
EUR/CHF is back at the pivotal support of 1.2200
FXStreet (Moscow) - EUR/CHF stages feeble attempts to recover from Asian low of 1.2207. Currently, the cross is trading at 1.2210, desperately waiting for new triggers.
Back to the drawing board
The resistance of 1.2230 turned out to be too strong for EUR/CHF bulls to break through as the cross touched the high of 1.2232 on Wednesday and retreated back to 1.2208 as if scared by new high point. Today we expect it to continue consolidating within a narrow range close to the pivotal level of 1.2200 as there are no fundamental releases that may attract the investors attention. On the upside keep an eye at 1.2215 as the sustained move above this level might inspire bulls for a move to 1.2225/30.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2219, with support below at 1.2201, 1.2191 and 1.2173 with resistance above at 1.2229, 1.2247 and 1.2257. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2219 and the daily 20EMA at 1.2209. Hourly RSI is bearish at 40
Back to the drawing board
The resistance of 1.2230 turned out to be too strong for EUR/CHF bulls to break through as the cross touched the high of 1.2232 on Wednesday and retreated back to 1.2208 as if scared by new high point. Today we expect it to continue consolidating within a narrow range close to the pivotal level of 1.2200 as there are no fundamental releases that may attract the investors attention. On the upside keep an eye at 1.2215 as the sustained move above this level might inspire bulls for a move to 1.2225/30.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2219, with support below at 1.2201, 1.2191 and 1.2173 with resistance above at 1.2229, 1.2247 and 1.2257. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2219 and the daily 20EMA at 1.2209. Hourly RSI is bearish at 40