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18 Mar 2014
Swissy bulls are on short vacations
FXStreet (Moscow) - EUR/CHF settled above the pivotal level of 1.2150 early on Tuesday; bulls are still enthusiastic.
Swissy is for sale, as markets calmed down
EUR/CHF attempted to break above an important resistance zone of 1.2150 and finished the day close to the intraday highs at 1.2155. The Swissy weakened as the markets breathed a signed of relief after rather mild sanctions against Russia after the Crimean vote. Switzerland is not in a hurry with sanctions, they don’t like to show-off, they just wait and see how it all comes around before acting. In this respect today’s Putin’s speech might be of interest as it may (1) trigger a new wave of anti-risk sentiments and thus, CHF strengthening across the board; and (2) Swiss response to the situation that will be considered in the context of possible consequence both for Russian and Swiss economies. The closest resistance is seen at 1.2170 and followed by 1.2200. The intraday downside is likely to be limited by 1.2130.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2151, with support below at 1.2136, 1.2117 and 1.2102 with resistance above at 1.2170, 1.2185 and 1.2204. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2169 and the daily 20EMA at 1.2178. Hourly RSI is neutral at 67.
Swissy is for sale, as markets calmed down
EUR/CHF attempted to break above an important resistance zone of 1.2150 and finished the day close to the intraday highs at 1.2155. The Swissy weakened as the markets breathed a signed of relief after rather mild sanctions against Russia after the Crimean vote. Switzerland is not in a hurry with sanctions, they don’t like to show-off, they just wait and see how it all comes around before acting. In this respect today’s Putin’s speech might be of interest as it may (1) trigger a new wave of anti-risk sentiments and thus, CHF strengthening across the board; and (2) Swiss response to the situation that will be considered in the context of possible consequence both for Russian and Swiss economies. The closest resistance is seen at 1.2170 and followed by 1.2200. The intraday downside is likely to be limited by 1.2130.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2151, with support below at 1.2136, 1.2117 and 1.2102 with resistance above at 1.2170, 1.2185 and 1.2204. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2169 and the daily 20EMA at 1.2178. Hourly RSI is neutral at 67.