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21 Apr 2014
EUR/CHF is bogged down at 1.2200
FXStreet (Moscow) - EUR/CHF is down -0.02% on the day at 1.2199, having previously posted a daily high at 1.2206 and a low at 1.2196.
SNB vs. ECB
EUR/CHF is in no mood to break above 1.2200 so far. The 4-hour chart shows that the the upside dynamic stalled right at this level sand the prices enter the consolidation mode. European stocks posted weekly gains on the back of positive US data, while Geneva accord on Ukraine might support investors optimism and ease buying pressure on safe assets. But don’t be lulled into complacency as a new wave of crisis escalation is more than possible. In this case the Swiss currency may resume its growth agains EUR. From the fundamental point of view we have flash PMIs in Eurozone and export/import data from Switzerland this week. Also don’t miss SNB’s Jordan speech on Friday as his comments on exchange rates might be fateful for the cross.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2201, with support below at 1.2195, 1.2188 and 1.2182 with resistance above at 1.2208, 1.2214 and 1.2221. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2176 and the daily 20EMA at 1.2186. Hourly RSI is bullish at 55.
SNB vs. ECB
EUR/CHF is in no mood to break above 1.2200 so far. The 4-hour chart shows that the the upside dynamic stalled right at this level sand the prices enter the consolidation mode. European stocks posted weekly gains on the back of positive US data, while Geneva accord on Ukraine might support investors optimism and ease buying pressure on safe assets. But don’t be lulled into complacency as a new wave of crisis escalation is more than possible. In this case the Swiss currency may resume its growth agains EUR. From the fundamental point of view we have flash PMIs in Eurozone and export/import data from Switzerland this week. Also don’t miss SNB’s Jordan speech on Friday as his comments on exchange rates might be fateful for the cross.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2201, with support below at 1.2195, 1.2188 and 1.2182 with resistance above at 1.2208, 1.2214 and 1.2221. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2176 and the daily 20EMA at 1.2186. Hourly RSI is bullish at 55.