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EUR/CHF bulls flexing muscles ahead of SNB

FXStreet (Moscow) - EUR/CHF is marginally higher onn the day, trading at 1.2110 after having opened at 1.2104; markets are waiting for SNB’s monetary policy decision.

EUR/CHF’s moment of glory

EUR/CHF is in the limelight today. The macroeconomic calendar is packed with high profile events, but SNB's monetary policy decision, obviously, is the biggest name on the Swiss dance card. The central bank is widely expected to follow the ECB’s lead and push its deposit rates into the negative territory to halt CHF rise. While this outcome is partially priced in, the decision might push the cross higher towards 1.2150 and, possibly, signal the potential recovery towards the upper side of the long-term channel around 1.2200/10. Though, EUR/CHF ascend might be difficult and choppy as EUR is vulnerable to new losses due to internal economic challengers and external threats.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2103, with support below at 1.2086, 1.2066 and 1.2049 with resistance above at 1.2123, 1.2140 and 1.2160. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2088 and the daily 20EMA flat at 1.2091. Hourly RSI is bullish at 57.

EUR/JPY nearing 140.00 barrier

EUR/JPY has gained more than 60 pips so far; the cross started the Asian session at 139.33 and climbed towards current level of 139.93, more upside is in store
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