7 Apr 2014
USD/CHF went to check 0.89 support
FXStreet (Moscow) - USD/CHF edged lower ever since it touched 0.8922 session high, and reached 0.8902 support level by the moment.
CPI data did help the Swissy
Too many factors are in favor of the pair slide for now, even though empty economic calendar may limit the move to narrow range. USD weakness is still on the table, though the currency struggles to recover part of the losses occurred on last Friday. Besides, the see technically strong resistance around 0.8930 area – the pair was not able to nest above since February, 14, and the recent attempts to break it have failed so far. And one more factor to sell the pair occurred today, as Swiss March CPI showed +0.4% m/m vs +0.2% expected. Moreover, it came above previous number at 0.1%, and the yearly figures moved out from negative territory printing 0.0% vs -0.1% previously. Thus, the further slide down when 0.89 is broken is not ruled out with initial target at 0.8879.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8928 with support below at 0.8902, 0.8879 and 0.8853, with resistance above at 0.8951, 0.8977, and 0.9000. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8865 and the daily 20EMA bullish at 0.8849. Hourly RSI is neutral at 50.
CPI data did help the Swissy
Too many factors are in favor of the pair slide for now, even though empty economic calendar may limit the move to narrow range. USD weakness is still on the table, though the currency struggles to recover part of the losses occurred on last Friday. Besides, the see technically strong resistance around 0.8930 area – the pair was not able to nest above since February, 14, and the recent attempts to break it have failed so far. And one more factor to sell the pair occurred today, as Swiss March CPI showed +0.4% m/m vs +0.2% expected. Moreover, it came above previous number at 0.1%, and the yearly figures moved out from negative territory printing 0.0% vs -0.1% previously. Thus, the further slide down when 0.89 is broken is not ruled out with initial target at 0.8879.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8928 with support below at 0.8902, 0.8879 and 0.8853, with resistance above at 0.8951, 0.8977, and 0.9000. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8865 and the daily 20EMA bullish at 0.8849. Hourly RSI is neutral at 50.