2 Jun 2014
EUR/CHF bumps into 1.2210 resistance
FXStreet (Moscow) - EUR/CHF is trying to develop a sort of upside dynamics ahead of the European opening
EUR/CHF bulls don’t give up
EUR/CHF managed to finish the week right on 1.22 handle. This is positive for bulls despite the fact that the cross dipped to 1.2190 on Friday. From the fundamental point of view, we have a Swiss PMI report published during European hours. It is expected to weaken from 55.8 in April to 55.1 in May. The market reaction is likely to be muted as long as the actual data does not deviate sharply from the expectations. European stocks are expected to open in a green zone, which may support the cross that is positively correlated with the stock market developments. In this case the first bullish aim is seen at 1.2210 and followed by 1.2215.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2205, with support below at 1.2193, 1.2180 and 1.2168 with resistance above at 1.2218, 1.2230 and 1.2243. Hourly Moving Averages are mixed, with the 200SMA at 1.2215 and the daily 20EMA at 1.2209. Hourly RSI is bullish at 52
EUR/CHF bulls don’t give up
EUR/CHF managed to finish the week right on 1.22 handle. This is positive for bulls despite the fact that the cross dipped to 1.2190 on Friday. From the fundamental point of view, we have a Swiss PMI report published during European hours. It is expected to weaken from 55.8 in April to 55.1 in May. The market reaction is likely to be muted as long as the actual data does not deviate sharply from the expectations. European stocks are expected to open in a green zone, which may support the cross that is positively correlated with the stock market developments. In this case the first bullish aim is seen at 1.2210 and followed by 1.2215.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2205, with support below at 1.2193, 1.2180 and 1.2168 with resistance above at 1.2218, 1.2230 and 1.2243. Hourly Moving Averages are mixed, with the 200SMA at 1.2215 and the daily 20EMA at 1.2209. Hourly RSI is bullish at 52