Back
25 Jul 2014
EUR/CHF is grinding higher
FXStreet (Moscow) - EUR/CHF returned to the pivotal area of 1.2150 after a failed attempt to settle high on Thursday
Little strokes fell great oaks
EUR/CHF expanded its intraday range to 13 pips on Thursday - something unheard of for this phlegmatic cross. Little strokes fell great oaks and little EUR/CHF upside steps might set it free from narrowing triangle pattern. We need to see a weekly close above 1.2150 to support the idea of EUR/CHF bottoming out at 1.2130. Later during the day inverses’ attention will be attracted by German IFO numbers, which is expected to come out slightly lower in July. Though positive surprise following yesterday’s optimistic PMI numbers might support EUR across the board.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2150, with support below at 1.2143, 1.2135 and 1.2128 with resistance above at 1.2158, 1.2165 and 1.2173. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2149 and the daily 20EMA neutral at 1.2153. Hourly RSI is bullish at 51.
Little strokes fell great oaks
EUR/CHF expanded its intraday range to 13 pips on Thursday - something unheard of for this phlegmatic cross. Little strokes fell great oaks and little EUR/CHF upside steps might set it free from narrowing triangle pattern. We need to see a weekly close above 1.2150 to support the idea of EUR/CHF bottoming out at 1.2130. Later during the day inverses’ attention will be attracted by German IFO numbers, which is expected to come out slightly lower in July. Though positive surprise following yesterday’s optimistic PMI numbers might support EUR across the board.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2150, with support below at 1.2143, 1.2135 and 1.2128 with resistance above at 1.2158, 1.2165 and 1.2173. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2149 and the daily 20EMA neutral at 1.2153. Hourly RSI is bullish at 51.