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8 Aug 2014
EUR/CHF bulls are fighting for 1.2130
FXStreet (Moscow) - EUR/CHF is trying hard to get back above 1.2130 pivot after an epic fall to Asian lows of 1.2121 on a new wave of anti-risk sentiments
Not everything is lost yet
EUR/CHF attempted a recovery towards 1.2152 on Thursday, but bullish dreams never came true. The single currency is under pressure across the board due to rate differential theme, while European stock markets tumbled on the back of geopolitical risks that may threaten the recovery of EZ economy. This kept safe-heaven Swissy in demand together with scary geopolitical news that pushed the cross below the pivotal 1.2130 level early in Asia. From the fundamental point of view we have Swiss unemployment numbers published early in Europe, but they are unlikely to stir market movements. Keep an eye at 1.2130 as it is a by far the most important support. EUR/CHF needs to finish the day above this level, to stay within its recent range.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2147, with support below at 1.2137, 1.2129 and 1.2119 with resistance above at 1.2155, 1.2165 and 1.2173. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2160 and the daily 20EMA bearish at 1.2156. Hourly RSI is bearish at 29.
Not everything is lost yet
EUR/CHF attempted a recovery towards 1.2152 on Thursday, but bullish dreams never came true. The single currency is under pressure across the board due to rate differential theme, while European stock markets tumbled on the back of geopolitical risks that may threaten the recovery of EZ economy. This kept safe-heaven Swissy in demand together with scary geopolitical news that pushed the cross below the pivotal 1.2130 level early in Asia. From the fundamental point of view we have Swiss unemployment numbers published early in Europe, but they are unlikely to stir market movements. Keep an eye at 1.2130 as it is a by far the most important support. EUR/CHF needs to finish the day above this level, to stay within its recent range.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2147, with support below at 1.2137, 1.2129 and 1.2119 with resistance above at 1.2155, 1.2165 and 1.2173. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2160 and the daily 20EMA bearish at 1.2156. Hourly RSI is bearish at 29.