19 Jun 2014
EUR/CHF – the narrower the range the sharper the breakout
FXStreet (Moscow) - Currently, EUR/CHF is trading at 1.2183, up 0.04% on the day, having posted a daily high at 1.2186 and low at 1.2175.
EUR/CHF is in peace and harmony
The pair has shown a long streak of range-bound trading from the middle of March, and the limits are constantly narrowing leaving the pair only 20 pips for the move during the recent days. Since the single currency is under pressure of ultra easy monetary stance of the ECB, and the Swissy prefers to stay in comfort zone of the SNB above 1.20 area, it looks like nothing can break such peace and harmony. Nothing except for the SNB and planned meeting, especially if the regulator makes the decision to ease as well. In this case the pair may get additional stimulus to move higher with initial target at 1.22 area.
What are today’s key EUR/CHF levels?
Current price is 1.2184, with resistance ahead at 1.2184 (Weekly Classic PP), 1.2186 (Daily High), 1.2187 (Weekly High), 1.2191 (Daily Classic R1) and 1.2192 (Daily 20 SMA). Next support to the downside can be found at 1.2183 (Daily Classic PP), 1.2183 (Hourly 200 SMA), 1.2181 (Hourly 20 EMA), 1.2181 (Hourly 100 SMA) and 1.2178 (Daily Open).
EUR/CHF is in peace and harmony
The pair has shown a long streak of range-bound trading from the middle of March, and the limits are constantly narrowing leaving the pair only 20 pips for the move during the recent days. Since the single currency is under pressure of ultra easy monetary stance of the ECB, and the Swissy prefers to stay in comfort zone of the SNB above 1.20 area, it looks like nothing can break such peace and harmony. Nothing except for the SNB and planned meeting, especially if the regulator makes the decision to ease as well. In this case the pair may get additional stimulus to move higher with initial target at 1.22 area.
What are today’s key EUR/CHF levels?
Current price is 1.2184, with resistance ahead at 1.2184 (Weekly Classic PP), 1.2186 (Daily High), 1.2187 (Weekly High), 1.2191 (Daily Classic R1) and 1.2192 (Daily 20 SMA). Next support to the downside can be found at 1.2183 (Daily Classic PP), 1.2183 (Hourly 200 SMA), 1.2181 (Hourly 20 EMA), 1.2181 (Hourly 100 SMA) and 1.2178 (Daily Open).