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19 Feb 2014
EUR/CHF is crawling towards 1.2200
FXStreet (Moscow) - EUR/CHF is moving lower during Asian hours on Wednesday as the cross has started the day at 1.2221 and touched the current low at 1.2212.
EUR/CHF's range is depressingly narrow
EUR/CHF is still stuck at the lower band of the channel from June 2013 and there are no sighs it is going to get out if its b=narrow range any time soon. The cross finished Tuesday virtually unchanged and came under slight selling pressure early in Asia today, Though the closer the support of 1.2200, the scarier it is. Swiss ZEW survey is published today. It is expected to show slight improvement in February, but we do not believe this event will become a market mover for EUR/CHF as even yesterday’s poor than expected ZEW numbers in Europe failed to inspire some movements. So on the downside 1.22000 is still the key, while the upside is likely to be limited by 1.2250.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2223, with support below at 1.2207, 1.2194 and 1.2178 with resistance above at 1.2236, 1.2252 and 1.2265. Hourly Moving Averages are mostly иуфкшыр, with the 200SMA at 1.2231 and the daily 20EMA at 1.2245. Hourly RSI is neutral at 43.
EUR/CHF's range is depressingly narrow
EUR/CHF is still stuck at the lower band of the channel from June 2013 and there are no sighs it is going to get out if its b=narrow range any time soon. The cross finished Tuesday virtually unchanged and came under slight selling pressure early in Asia today, Though the closer the support of 1.2200, the scarier it is. Swiss ZEW survey is published today. It is expected to show slight improvement in February, but we do not believe this event will become a market mover for EUR/CHF as even yesterday’s poor than expected ZEW numbers in Europe failed to inspire some movements. So on the downside 1.22000 is still the key, while the upside is likely to be limited by 1.2250.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2223, with support below at 1.2207, 1.2194 and 1.2178 with resistance above at 1.2236, 1.2252 and 1.2265. Hourly Moving Averages are mostly иуфкшыр, with the 200SMA at 1.2231 and the daily 20EMA at 1.2245. Hourly RSI is neutral at 43.