Back
27 Feb 2014
EUR/CHF is wшершт a whisker from 1.2180 support
FXStreet (Moscow) - EUR/CHF is steadily moving down during Asian hours as the cross opened at 1.2191 and retraced to current low at 1.2181.
Bears grabbed control over EUR/CHF
EUR/CHF bulls tried to return the cross to the area above 1.2200, but they weren’t lucky as the cross finished Wednesday at 1.2191. Today the cross is under selling pressure without obvious fundamental factors to back the movement. We believe it is just a pure technical play, as the cross has firmly settled above the pivotal level of 1.2200. During European session the bears might have another incentive to drive EUR/CHF, if German labour market data came out worse than expected. In this case Euro will be sold out across the board and EUR/CHF might drop to the support of 1.2180. If broken, the downside will accelerate to 1.2150. The resistance comes at 1.2200 and followed by 1.2213.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2195, with support below at 1.2183, 1.2177 and 1.2165 with resistance above at 1.2201, 1.2213 and 1.2219. Hourly Moving Averages are bearish, with the 200SMA at 1.2207 and the daily 20EMA at 1.2223. Hourly RSI is neutral at 41.
Bears grabbed control over EUR/CHF
EUR/CHF bulls tried to return the cross to the area above 1.2200, but they weren’t lucky as the cross finished Wednesday at 1.2191. Today the cross is under selling pressure without obvious fundamental factors to back the movement. We believe it is just a pure technical play, as the cross has firmly settled above the pivotal level of 1.2200. During European session the bears might have another incentive to drive EUR/CHF, if German labour market data came out worse than expected. In this case Euro will be sold out across the board and EUR/CHF might drop to the support of 1.2180. If broken, the downside will accelerate to 1.2150. The resistance comes at 1.2200 and followed by 1.2213.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2195, with support below at 1.2183, 1.2177 and 1.2165 with resistance above at 1.2201, 1.2213 and 1.2219. Hourly Moving Averages are bearish, with the 200SMA at 1.2207 and the daily 20EMA at 1.2223. Hourly RSI is neutral at 41.