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FxWirePro: EUR/CHF rejected at session highs, break below 1.1344 to see further downside

EUR/CHF chart - Trading View 

  • EUR/CHF rejected at session highs at 1.1357, trades unchanged at 1.1346 at 0715 GMT.
     
  • The single currency edged higher as markets turned to risk-on after the British members of parliament voted for delaying the Brexit deadline from March 29.
     
  • Further supporting sentiment were comments from the US President Donald Trump that signals US-China trade solution in next 3-4 weeks. 
     
  • The pair failed to gather upside momentum, has slipped back lower. We see Doji formation on the daily candle till now.
     
  • The pair finds major support at 1.1344 (converged 55-EMA and 38.2% Fib). Break below will see further weakness.
     
  • Scope then for test of lower BB at 1.1316. Next major support lies at 61.8% Fib at 1.1282.
     
  • Focus now on final reading of February Eurozone consumer price index (CPI). Miss on expectations could dent the euro.
     
  • Eurozone CPI is expected to remain unchanged at 1.5% y/y while likely confirming 1.0% Core CPI. However, the monthly figure of CPI might increase from -1.0% flash version to +0.3%.

Support levels - 1.1344 (converged 55-EMA and 38.2% Fib), 1.1316 (Lower BB), 1.1282 (61.8% Fib) 

Resistance levels - 1.1352 (21-EMA), 1.1357 (110-EMA), 1.1360 (5-DMA)

Recommendation: Watch out for break below 1.1344 to go short, SL: 0.1360, TP: 1.1315/ 1.1285

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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2019-04-22 03:28:02
0m

April 22 03:30 UTC Released

THBased Trade Data

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2 1.76

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1.28 1.76

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4.03 1.76

April 22 03:30 UTC Released

THBased Import Data

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-7.63 13.7

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-2.95 13.7

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-10.03 13.7

January 31 00:00 UTC 642608642608m

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2016 bln ARS

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2016 bln ARS

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January 22 19:00 UTC 654428654428m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 642608642608m

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2016 bln ARS

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January 22 19:00 UTC 654428654428m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 642608642608m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 642608642608m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 642608642608m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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