Back
12 Mar 2014
EUR/CHF consolidates close to Asian lows
FXStreet (Moscow) - EUR/CHF continued to slide down early in Asia after a good bearish movement on Tuesday, the cross touched new low at 1.2157 as the safe Swissy was in demand due to the anti-risk sentiments.
EUR/CHF technical factors, geopolitical triggers
EUR/CHF has stuck in a range, but there are some worming sings signaling that the upside correction within the longer-term bearish trend may be over. Tweezers top pattern that appeared right after the bearish engulfing pattern indicates that the bulls have lost their enthusiasm and the cross may extend its losses. the European calendar is not packed with the events, though the industrial production in Eurozone may catch investors’ eye. Better than expected numbers are likely to support EUR. In this case the cross may move to the upper side of the current range. Risk sentiments are going to play a greater role in Swissy’s fate as the tension between Russia and Ucraine over Crimea is growing rapidly. The nearest support comes at 1.2150. If it is broken, the downside will accelerate to 1.2130. The bespoke resistance is at 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2177, with support below at 1.2160, 1.2146 and 1.2129 with resistance above at 1.2191, 1.2208 and 1.2222. Hourly Moving Averages are bearish, with the 200SMA at 1.2173 and the daily 20EMA at 1.2195. Hourly RSI is neutral at 31.
EUR/CHF technical factors, geopolitical triggers
EUR/CHF has stuck in a range, but there are some worming sings signaling that the upside correction within the longer-term bearish trend may be over. Tweezers top pattern that appeared right after the bearish engulfing pattern indicates that the bulls have lost their enthusiasm and the cross may extend its losses. the European calendar is not packed with the events, though the industrial production in Eurozone may catch investors’ eye. Better than expected numbers are likely to support EUR. In this case the cross may move to the upper side of the current range. Risk sentiments are going to play a greater role in Swissy’s fate as the tension between Russia and Ucraine over Crimea is growing rapidly. The nearest support comes at 1.2150. If it is broken, the downside will accelerate to 1.2130. The bespoke resistance is at 1.2200.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2177, with support below at 1.2160, 1.2146 and 1.2129 with resistance above at 1.2191, 1.2208 and 1.2222. Hourly Moving Averages are bearish, with the 200SMA at 1.2173 and the daily 20EMA at 1.2195. Hourly RSI is neutral at 31.