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10 Jun 2014
EUR/CHF is sitting at 1.2190
FXStreet (Moscow) - EUR/CHF is sitting in a narrow 4-pip range, waiting for Swiss economic reports
Torn apart
EUR/CHF stopped within a couple of pips from the bespoke resistance of 1.2200 and set the intraday high at 1.2297 on Monday despite negative EUR dynamics across the board. This is easily explained as European stocks rushed to new six-year highs amid optimism about global economy recovery. EUR/CHF draw its inspiration from positive correlation with European stock markets. Though today the pair may reverse some gains early in Europe as major European bourses are seen opening modestly lower on Tuesday. Also, keep your eyes peeled for Swiss labour market and retail sales report as weaker numbers will raise the chance that the SNB will b=follow the lead of ECB and ease its monetary policy, which will put Swissy under pressure across the board.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2194, with support below at 1.2186, 1.2179 and 1.2171 with resistance above at 1.2201, 1.2209 and 1.2216. Hourly Moving Averages are mixed, with the 200SMA at 1.2204 and the daily 20EMA at 1.2205. Hourly RSI is bullish at 56
Torn apart
EUR/CHF stopped within a couple of pips from the bespoke resistance of 1.2200 and set the intraday high at 1.2297 on Monday despite negative EUR dynamics across the board. This is easily explained as European stocks rushed to new six-year highs amid optimism about global economy recovery. EUR/CHF draw its inspiration from positive correlation with European stock markets. Though today the pair may reverse some gains early in Europe as major European bourses are seen opening modestly lower on Tuesday. Also, keep your eyes peeled for Swiss labour market and retail sales report as weaker numbers will raise the chance that the SNB will b=follow the lead of ECB and ease its monetary policy, which will put Swissy under pressure across the board.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2194, with support below at 1.2186, 1.2179 and 1.2171 with resistance above at 1.2201, 1.2209 and 1.2216. Hourly Moving Averages are mixed, with the 200SMA at 1.2204 and the daily 20EMA at 1.2205. Hourly RSI is bullish at 56