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5 Sep 2014
EUR/CHF nicely settled at 1.2060 support; where from here?
FXStreet (Moscow) - EUR/CHF is rangebound close to the support level of 1.2060 after a short trip to the Asian low at 1.2057
Not ready for assault yet
EUR/CHF dipped to 1.2044 on Thursday, but the downside was constrained by concerns about possible SNB intervention on one side and CHF weakening against USD on the other side. The chances are that the cross will continue consolidating within the range limited by 1.2080 on the upside ant 1.2060 on the downside at least until the next SNB policy meeting scheduled on September 18. On the intraday basis the cross may be influenced by knock-on effects of US Non-Farm Payroll data, though life-changing movements are unlikely.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2061, with support below at 1.2044, 1.2026 and 1.2009 with resistance above at 1.2079, 1.2096 and 1.2114. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2063 and the daily 20EMA bearish at 1.2093. Hourly RSI is bearish at 44.
Not ready for assault yet
EUR/CHF dipped to 1.2044 on Thursday, but the downside was constrained by concerns about possible SNB intervention on one side and CHF weakening against USD on the other side. The chances are that the cross will continue consolidating within the range limited by 1.2080 on the upside ant 1.2060 on the downside at least until the next SNB policy meeting scheduled on September 18. On the intraday basis the cross may be influenced by knock-on effects of US Non-Farm Payroll data, though life-changing movements are unlikely.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2061, with support below at 1.2044, 1.2026 and 1.2009 with resistance above at 1.2079, 1.2096 and 1.2114. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2063 and the daily 20EMA bearish at 1.2093. Hourly RSI is bearish at 44.