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EUR/CHF happy above 1.2100

FXStreet (Moscow) - EUR/CHF bumped into previous week’s high at 1.2111 before retracing towards current level at 1/2107; the cross is quiet ahead of European opening

Upside is limited

EUR/CHF managed to climb above 1.2100 by the end of the week, mainly due to CHF weakening against USD and European stocks rally on the back of positive US Non Farm Payroll data. The Swiss currency is negatively correlated with the European equities and risk sentiments and tends to move lower when things look brighter in Europe. On the intraday basis the cross is vulnerable to a corrective move lower, though the downside is likely to be limited by 1.2080. The bulls need to get the cross above 1.2115 for a more meaningful upside.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2101, with support below at 1.2089, 1.2070 and 1.2058 with resistance above at 1.2120, 1.2132 and 1.2151. Hourly Moving Averages are bullish, with the 200SMA bullish at 1.2075 and the daily 20EMA bullish at 1.2082. Hourly RSI is bullish at 71

EUR/JPY heads towards 137.00 support

EUR/JPY slid towards 137.10 after having started the Asian session at 137.35; the downside is caused by JPY growth against USD
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