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EUR/CHF stalled at 1.2067, disappointed by SNB

FXStreet (Moscow) - EUR/CHF is unchanged on the day at 1.2067; the cross is sitting in a tight 10-pip range limited by 1.2072 on the upside and 1.2062 on the downside.

Vulnerable to losses

Those who expected negative deposits rates from SNB were bitterly disappointed yesterday, as the Swiss central bank left its rates unchanged. The policy makers warned about deflation threat and lowered their economic forecasts, but that did not stop CHF from strengthening against EUR. EUR/CHF dipped towards 1.2060 support and settled well below 1.2100. From the longer-term perspective this may mean more downside for the cross as markets might want to test SNB’s determination to protect 1.2000 floor. On the intraday basis the cross may find support at 1.2060/50, while the upside is likely to be limited by 1.2080.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2083, with support below at 1.2050, 1.2032 and 1.1999 with resistance above at 1.2101, 1.2134 and 1.2152. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2089 and the daily 20EMA flat at 1.2089. Hourly RSI is bearish at 38.

USD/JPY retracing from highs. still above 109.00

USD/JPY retraced from new multi-year high at 109.46, touched early in Asia; The pair is trading at 109.06, 50 pips higher on the day.
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