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EUR/CHF stuck at mid-1.2000

FXStreet (Moscow) - EUR/CHF  is locked in a tight range limited by 1.2071 on the upside and 1.2064 on the downside ahead of European opening.

EUR/CHF is consolidating in a tight range close to 1.2060 pivot, while SNB claims that it stands ready to act if necessary to cap CHF growth. The threat of intervention keeps EUR/CHF from falling on the back of EUR easing. From the technical point of view, the cross needs to break above 1.2080 to get a chance to return t0 1.2100. The downside is limited by 1.2060. Once it is broken, 1.2030 will come into view.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2069, with support below at 1.2062,  1.2055 and  1.2048 with resistance above at 1.2076, 1.2083 and 1.2090. Hourly Moving Averages are neutral, with the 200SMA bearish at 1.2078 and the daily 20EMA bearish at 1.2083. Hourly RSI is bullish at 50.

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