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4 Aug 2014
EUR/CHF bulls are desperate to get to 1.2170 pivot
FXStreet (Moscow) - EUR/CHF took off from the Asian low of 1.2158 and tested 1.2165, as bullish momentum was not strong enough to get the cross to the pivotal resistance of 1.2170.
EUR/CHF bulls stopped halfway
EUR/CHF posted the third positive week in a row. Not so bad, but not enough to cork a bottle of champagne, as the cross had been declining steadily for eight weeks in succession before it bottomed out at 1.2130. EUR/CHF stopped short at 1.2170 resistance and ask long as the cross trades below this level, the slide towards the lower side of its current range at 1.2130 is not out of the question. Overall EUR sentiments might have their knock-on effect on the cross, though it is more sensitive to risk profile. Watch out for geopolitical news and European stock market developments for clues.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2163, with support below at 1.2155, 1.2145 and 1.2137 with resistance above at 1.2173, 1.2181 and 1.2191. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2157 and the daily 20EMA flat at 1.2157. Hourly RSI is bullish at 52.
EUR/CHF bulls stopped halfway
EUR/CHF posted the third positive week in a row. Not so bad, but not enough to cork a bottle of champagne, as the cross had been declining steadily for eight weeks in succession before it bottomed out at 1.2130. EUR/CHF stopped short at 1.2170 resistance and ask long as the cross trades below this level, the slide towards the lower side of its current range at 1.2130 is not out of the question. Overall EUR sentiments might have their knock-on effect on the cross, though it is more sensitive to risk profile. Watch out for geopolitical news and European stock market developments for clues.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2163, with support below at 1.2155, 1.2145 and 1.2137 with resistance above at 1.2173, 1.2181 and 1.2191. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2157 and the daily 20EMA flat at 1.2157. Hourly RSI is bullish at 52.