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5 Aug 2013
EUR/CHF edges higher in range
FXstreet.com (Barcelona) - Having made an overnight high at 1.2348, EUR/CHF sold off overnight to post a low at 1.2325 before finding support.
The pair, currently trading at 1.2337, down just -0.04% on the day, looks to have been buoyed by today´s better than expected European data, including Services PMIs, Investor Confidence and Retail Sales. However, despite moving off support, spot remains firmly at the midpoint of the daily range so far.
EUR/CHF Technically bullish
The FXstreet.com Trend Index is showing EUR/CHF to be slightly bullish, with the pair finding support at Friday´s lows around 1.2325-2330. Daily classic pivot points show support below at S1 at 1.2313, S2 at 1.2282 and S3 at 1.2239. Above, resistance is noted at the daily pivot at 1.2356, R1 at 1.2387 and R2 at 1.2430. Hourly oscillators have moved from oversold territory and both Stochastics and RSi are at 42.
The pair, currently trading at 1.2337, down just -0.04% on the day, looks to have been buoyed by today´s better than expected European data, including Services PMIs, Investor Confidence and Retail Sales. However, despite moving off support, spot remains firmly at the midpoint of the daily range so far.
EUR/CHF Technically bullish
The FXstreet.com Trend Index is showing EUR/CHF to be slightly bullish, with the pair finding support at Friday´s lows around 1.2325-2330. Daily classic pivot points show support below at S1 at 1.2313, S2 at 1.2282 and S3 at 1.2239. Above, resistance is noted at the daily pivot at 1.2356, R1 at 1.2387 and R2 at 1.2430. Hourly oscillators have moved from oversold territory and both Stochastics and RSi are at 42.