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EUR/CHF recovering; 1.2080 resistance in sight

FXStreet (Moscow) - EUR/CHF is testing the upper side of its recent range due to mild EUR recovery

EUR/CHF is boring again

On Tuesday EUR/CHF moved within 15-pip range and finished the day with marginal gains at the upper side of its recent range. Swiss inflation numbers came out better than expected, but the cross barely moved. EUR/CHF lost about 100 pipes since the beginning of August and now it needs to spend some time in a range to pluck up before the next leg lower, towards 1.2000. From the longer term perspective EUR weakness is likely to persist and drag the cross lower. But the short-term upside correction might support the cross as well. On the intraday basis keep an eye at 1.2080 on the upside and at 1.2155 on the downside.

What are today’s key EUR/CHF levels?
Today's central pivot point can be found at 1.2066, with support below at 1.2059, 1.2049 and 1.2042 with resistance above at 1.2076, 1.2083 and 1.2093. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2067 and the daily 20EMA bearish at 1.2086. Hourly RSI is bullish at 65.

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