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20 May 2014
EUR/CHF is not a loser anymore
FXStreet (Moscow) - EUR/CHF has been untypical strong, while a triangle on hourly chart may support the trend continuation, if broken to the upside
Look at EUR, and sell CHF
The pair is still not far away from the recent highs, not ready to calm down and get back to the roots. The Euro moves may serve as an indicator of the market belief in the strength of the European economy. If the single currency continues the selling, it may be another argument in favor of the Swissy weakness, as EMU and Swiss economies have very close ties. If so, 1.2250 resistance may be the next target to the upside.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2229, with support below at 1.2219, 1.2105 and 1.2195 with resistance above at 1.2243, 1.2253 and 1.2267. Hourly Moving Averages are bullish, with the 200SMA at 1.2204 and the daily 20EMA at 1.2202. Hourly RSI is bullish at 59
Look at EUR, and sell CHF
The pair is still not far away from the recent highs, not ready to calm down and get back to the roots. The Euro moves may serve as an indicator of the market belief in the strength of the European economy. If the single currency continues the selling, it may be another argument in favor of the Swissy weakness, as EMU and Swiss economies have very close ties. If so, 1.2250 resistance may be the next target to the upside.
What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2229, with support below at 1.2219, 1.2105 and 1.2195 with resistance above at 1.2243, 1.2253 and 1.2267. Hourly Moving Averages are bullish, with the 200SMA at 1.2204 and the daily 20EMA at 1.2202. Hourly RSI is bullish at 59