EUR/CHF has frozen to the opening level at 1.2209

FXStreet (Moscow) - EUR/CHF is sitting quietly in a 5-pip range just above the support level of 1.2200 after decisive bullish movements on Monday

EUR/CHF is again above 1.2200

EUR/CHF managed to return to the area above the key level of 1.2200 on a mixture of technical and fundamental factors. Improved risk profile eased the upside pressure on the safe-heaven Swissy, while the proximity of the SNB threshold level spooked EUR/CHF bears. Today we are looking for quiet trading within a range as there are no interesting macro data either from Switzerland or from Eurozone. Though EUR/CHF may fall victim of speculative trading, so keep an eye at the support level of 1.2200 as it plays an important role in the cross’s future. On the upside the resistance is seen at 1.2230 and the bulls will hardly be able to push EUR/CHF higher today.

What are today’s key EUR/CHF levels?

Today's central pivot point can be found at 1.2205, with support below at 1.2190, 1.2170 and 1.2155 with resistance above at 1.2225, 1.2240 and 1.2260. Hourly Moving Averages are mixed, with the 200SMA at 1.2214 and the daily 20EMA at 1.2231. Hourly RSI is neutral at 56.