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21 May 2014
EUR/CHF is under pressure, off the Asian high at 1.2220
FXStreet (Moscow) - EUR/CHF rebounded from the current Asian low of 1.2215, but the upside momentum is too weak.
EUR/CHF is risk-dependant
EUR/CHF poked at the important resistance level of 1.2230, but failed to go much higher. The cross set the intraday high at 1.2235 (this is the highest level since the end of March) and retreated to 1.2218 on Tuesday. The overall dynamics remain bullish as long as the cross stays above 1.2200. Fundamentally, EUR/CHF might be influenced by Swiss Money Supply M3 report published during European hours, though this data is no game changer. Keep your eyes peeled for European stock market development. Sentiments are clearly improving as Stoxx 600 trades close to six-year high, leaving CHF vulnerable to further weakening.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2224, with support below at 1.2209, 1.2196 and 1.2181 with resistance above at 1.2237, 1.2252 and 1.2265. Hourly Moving Averages are mostly neutral, with the 200SMA at 1.2208 and the daily 20EMA at 1.2204. Hourly RSI is bearish at 42
EUR/CHF is risk-dependant
EUR/CHF poked at the important resistance level of 1.2230, but failed to go much higher. The cross set the intraday high at 1.2235 (this is the highest level since the end of March) and retreated to 1.2218 on Tuesday. The overall dynamics remain bullish as long as the cross stays above 1.2200. Fundamentally, EUR/CHF might be influenced by Swiss Money Supply M3 report published during European hours, though this data is no game changer. Keep your eyes peeled for European stock market development. Sentiments are clearly improving as Stoxx 600 trades close to six-year high, leaving CHF vulnerable to further weakening.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2224, with support below at 1.2209, 1.2196 and 1.2181 with resistance above at 1.2237, 1.2252 and 1.2265. Hourly Moving Averages are mostly neutral, with the 200SMA at 1.2208 and the daily 20EMA at 1.2204. Hourly RSI is bearish at 42