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EUR/CHF died somewhere around 1.2070

FXStreet (Moscow) - EUR/CHF is sitting at 1.2071 ahead of European opening, marginally higher on the day; markets are wary of aggressive EUR/CHF selling

Swissy is stuck

EUR/CHF is keeping close to the lower side of its recent range as traders are nervous to sell the single currency agains CHF, taking seriously SNB’s intervention threats. The cross has spent the week in a tight 25-pip range and it looks like higher volatility experienced elsewhere, came by EUR/CHF. Most likely the cross won’t leave its range until the next ECB’s monetary policy meeting where additional unconventional measures may be disclosed.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2076, with support below at 1.2061, 1.2053 and 1.2038 with resistance above at 1.2084, 1.2099 and 1.2107. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2082 and the daily 20EMA flat at 1.2084. Hourly RSI is bearish at 41.

How deep is the rabbit hole for NZD/USD below 0.79 pivot?

NZD/USD recovery towards 0.79 failed, the bearish momentum is gaining traction as the pair trades at 0.7890
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