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28 Feb 2014
EUR/CHF moved to 1.2167 and doesn’t want to stop
FXStreet (Moscow) - EUR/CHF is consolidating with the downside bias as the geopolitical tensions increase the demand for safe heaven assets; the current low is 1.2167.
Sleepy Swissy woke up
Sleepy Swissy woke up and went higher as growing geopolitical tensions drove the demand for safe heaven currencies much higher. EUR/CHF touched the multi-months low at 1.2156 on Thursday, but reversed some losses into the end of the day. The situation in Ukraine is in the limelight as the long-running conflict may turn into serious confrontation of global scale. Investors are scared by these perspectives, that’s why so called safe-heavens such as Swiss Frank, Yen and Dollar are in demand. Though speaking about EUR/CHF we need to remember that the SNB is watching it, and if the cross moves closer to the threshold of 1.2000, the monetary officials might start verbal interventions. From the fundamental point of view, the Eurozone CPI numbers will be in focus as signs of deflation will put the single currency under pressure. Keep an eye on 1.2160, if this support is broken, the downside will accelerate to1.2140 . The upside is likely to be limited by 1.2197-1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2176, with support below at 1.2160, 1.2139 and 1.2123 with resistance above at 1.2197, 1.2213 and 1.2234. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2201 and the daily 20EMA at 1.2219. Hourly RSI is neutral at 42.
Sleepy Swissy woke up
Sleepy Swissy woke up and went higher as growing geopolitical tensions drove the demand for safe heaven currencies much higher. EUR/CHF touched the multi-months low at 1.2156 on Thursday, but reversed some losses into the end of the day. The situation in Ukraine is in the limelight as the long-running conflict may turn into serious confrontation of global scale. Investors are scared by these perspectives, that’s why so called safe-heavens such as Swiss Frank, Yen and Dollar are in demand. Though speaking about EUR/CHF we need to remember that the SNB is watching it, and if the cross moves closer to the threshold of 1.2000, the monetary officials might start verbal interventions. From the fundamental point of view, the Eurozone CPI numbers will be in focus as signs of deflation will put the single currency under pressure. Keep an eye on 1.2160, if this support is broken, the downside will accelerate to1.2140 . The upside is likely to be limited by 1.2197-1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2176, with support below at 1.2160, 1.2139 and 1.2123 with resistance above at 1.2197, 1.2213 and 1.2234. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2201 and the daily 20EMA at 1.2219. Hourly RSI is neutral at 42.