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23 May 2014
EUR/CHF is back to its old rangebound ways
FXStreet (Moscow) - EUR/CHF Asian movements are limited by 1.2214 on the upside and 1.2207 on the downside.
EUR/CHF bulls are sitting on the fence
EUR/CHF dropped back to 1.2210 on Thursday as the single currency was under pressure across the board. Interestingly, CHF ignored positive European stock markets developments and gained ground against EUR. We attribute the movement mostly to technical factors and to investors’ jitters ahead of EU Parliament elections scheduled for this weekend. More risk aversion may be in the pipe today, as traders are likely to exit risk positions ahead of the weekend. Keep an eye at 1.2200 level as it is considered to be by far the most important support now.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2216, with support below at 1.2203, 1.2196 and 1.2183 with resistance above at 1.2223, 1.2236 and 1.2243. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2214 and the daily 20EMA at 1.2206. Hourly RSI is bearish at 45
EUR/CHF bulls are sitting on the fence
EUR/CHF dropped back to 1.2210 on Thursday as the single currency was under pressure across the board. Interestingly, CHF ignored positive European stock markets developments and gained ground against EUR. We attribute the movement mostly to technical factors and to investors’ jitters ahead of EU Parliament elections scheduled for this weekend. More risk aversion may be in the pipe today, as traders are likely to exit risk positions ahead of the weekend. Keep an eye at 1.2200 level as it is considered to be by far the most important support now.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2216, with support below at 1.2203, 1.2196 and 1.2183 with resistance above at 1.2223, 1.2236 and 1.2243. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.2214 and the daily 20EMA at 1.2206. Hourly RSI is bearish at 45