17 Jul 2014
EUR/CHF: doomed to fall
FXStreet (Moscow) - EUR/CHF has lost a few pips in Asia as the cross opened at 1.2148 and dipped to 1.2144.
EUR/CHF got tired
EUR/CHF bulls bumped into formidable obstacle formed by 1.2150 resistance. The cross moved to 1.2155, but failed to hold ground and started the downside correction that may take it to the initial support level of 1.2140 followed by 1.2130. During European hours the market focus will shift onto Eurozone CPI report. According to the forecast, the final numbers won’t be different form the flash estimates, though any deviations might trigger EUR volatility. Apart from this the cross is influenced by heightened geopolitical risk as rising tensions between Russian and the West support flight to safety and, consequently, pushes CHF higher.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2153, with support below at 1.2146, 1.2142 and 1.2135 with resistance above at 1.2157, 1.2164 and 1.2188. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2151 and the daily 20EMA at 1.2157. Hourly RSI is bearish at 35.
EUR/CHF got tired
EUR/CHF bulls bumped into formidable obstacle formed by 1.2150 resistance. The cross moved to 1.2155, but failed to hold ground and started the downside correction that may take it to the initial support level of 1.2140 followed by 1.2130. During European hours the market focus will shift onto Eurozone CPI report. According to the forecast, the final numbers won’t be different form the flash estimates, though any deviations might trigger EUR volatility. Apart from this the cross is influenced by heightened geopolitical risk as rising tensions between Russian and the West support flight to safety and, consequently, pushes CHF higher.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2153, with support below at 1.2146, 1.2142 and 1.2135 with resistance above at 1.2157, 1.2164 and 1.2188. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2151 and the daily 20EMA at 1.2157. Hourly RSI is bearish at 35.