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EUR/CHF lies low at 1.2070

FXStreet (Moscow) - EUR/CHF is sandwitched beween Asian high at 1.2074 and current low at 1.2068; the cross is still sleepy ahead of European opening.

Back to the drawing board

EUR/CHF managed to stay above 1.2060 support level on Friday. The cross lost about 30 pips in a week as the SNB failed to live up to expectations and confined itself only to verbal interventions. The ECB’s Draghi is speaking today. Investors expect him to comment upon disappointing TLTRO, which may affect EUR dynamics across the board. In general, this week is not very exciting in terms of macroeconomics statistics, so we might see some period of quiet consolidation and technical trading within a range, limited by 1.2090/1.2100 on the upside and 1.2030 on the downside.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2070, with support below at 1.2063, 1.2056 and 1.2049 with resistance above at 1.2077, 1.2084 and 1.2091. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2090 and the daily 20EMA bearish at 1.2087. Hourly RSI is bullish at 52.

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