20 Jan 2014
EUR/CHF is still waiting for triggers to break out from the range
FXstreet.com (Moscow) - EUR/CHF is slightly positive today as the cross moves away from the support level of 1.2320 to current intraday high of 1.2336
EUR/CHF is consolidating with slightly bullish momentum
EUR/CHF is still in the good old range after several failed attempts to break through in the course the previous week. The cross is pressured from both sides as the euro bears are trying to push it lower, while SNB threats to watch EUR/CHF movements very closely pressures on the Swiss currency. What’s more, CHF is a considered to be one of the most attractive funding currencies for carry traders. This means that in longer term perspective CHF may continue sliding. But in the intraday scale the EUR/CHF needs to performed a sustained break above 1.2350 to accelerate the upside to 1.2373 (last year top) and the key resistance of 1.2400. The downside is likely to be limited by 1.2320, though, once it is broken, the triggered stops will send the cross to 1.2300-1.2290.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2327, with support below at 1.2316, 1.2304 and 1.2293, with resistance above at 1.2339, 1.2350 and 1.2362. Hourly Moving Averages are mixed, with the 200SMA at 1.2346 and the daily 20EMA at 1.2311. Hourly RSI is neutral at 57.39
EUR/CHF is consolidating with slightly bullish momentum
EUR/CHF is still in the good old range after several failed attempts to break through in the course the previous week. The cross is pressured from both sides as the euro bears are trying to push it lower, while SNB threats to watch EUR/CHF movements very closely pressures on the Swiss currency. What’s more, CHF is a considered to be one of the most attractive funding currencies for carry traders. This means that in longer term perspective CHF may continue sliding. But in the intraday scale the EUR/CHF needs to performed a sustained break above 1.2350 to accelerate the upside to 1.2373 (last year top) and the key resistance of 1.2400. The downside is likely to be limited by 1.2320, though, once it is broken, the triggered stops will send the cross to 1.2300-1.2290.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2327, with support below at 1.2316, 1.2304 and 1.2293, with resistance above at 1.2339, 1.2350 and 1.2362. Hourly Moving Averages are mixed, with the 200SMA at 1.2346 and the daily 20EMA at 1.2311. Hourly RSI is neutral at 57.39