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EUR/CHF pulled in opposite directions

FXStreet (Moscow) - EUR/CHF is marginally lower on the day after having moved in 10-pips range limited by 1.2088 on the upside and 1.2078 on the downside

Draghi vs. Jordan

EUR/CHF gained ground on Wednesday on the back of weaker Swiss consumption indicator and rather pessimistic SNB’s quarterly bulletin, where the central bank retreated its decision to protect 1.20 floor and confirmed that the economic conditions were deteriorating, while CHF was too high. Though the upside was limited due to EUR sell-off across the board. Draghi’s comments pressed the cross lower again as the head of the European central bank promised to take measures to support the European economy. Stale news, but still effective. Later during the day EUR/CHF movements is likely to be limited by 1.2088/90 on the upside (once broken, 1.2100 will come into sight), and by 1.60 on the downside.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2081, with support below at 1.2074, 1.2062 and 1.2055 with resistance above at 1.2093, 1.2100 and 1.2112. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2085 and the daily 20EMA flat at 1.2085. Hourly RSI is bullish at 54.

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