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EUR/CHF glued to 1.2073 ahead of European opening

FXStreet (Moscow) - EUR/CHF has frozen to its opening level of 1.2073 after moving in a tight range of 5 pips.

Bears on retreat?

EUR/CHF ended Tuesday on the negative territory, but there is a series of higher lows clearly visible on a daily chart suggests that it would be difficult for the cross to resume the downside despite EUR sell-off across the board. Swiss consumption indicator is published within a few minutes. This is an important indicator of consumer trends and, as a result a good evidence of economy health. It has a low market moving potential, but lower than expected numbers might increase pressure on SNB to take additional steps to support the economy. From the technical point of view, the range remains unchanged: 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 1.2075, with support below at 1.2064, 1.2055 and 1.2044 with resistance above at 1.2084, 1.2095 and 1.2104. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2087 and the daily 20EMA bearish at 1.2085. Hourly RSI is bearish at 47.

AUD/USD on mend, but still far below 0.8900 resistance

AUD/USD is trading at 0.8867 with nearly 30 pips gain on the day after having opened at 0.8838; the current asian range is limited by 0.8838 on the downside and 0.8869 on the upside
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