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Forex pairs in this Article » USD/CHF
FXStreet (Moscow) - EUR/CHF is consolidating with the upside bias: the cross opened at 1.2218 and climbed to the resistance of 1.2230. Current intraday high is 1.2235

EUR/CHF is still desperate for triggers

EUR/CHF moves within a narrow range limited by 1.2200 on the downside and 1.2250 on the upside, though the longer term charts show that the cross has come close to the lower band of the channel from June 2013 it is a very strong support area that has been already tested on numerous occasions, but has never been conquered. This means that technically, the upside correction is ripe, but fundamentally we have ZEW economic sentiment index published today that may push EUR lower across the board should they come out worse than expected. In this case the cross may venture another attempt at 1.2200. The upside is likely to be limited by 1.2250.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2220, with support below at 1.2210, 1.2202 and 1.2192 with resistance above at 1.2228, 1.2238 and 1.2246. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.2232 and the daily 20EMA at 1.2258. Hourly RSI is neutral at 61.
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