12 May 2014
USD/CHF may try to attack 0.8870 again
FXStreet (Moscow) - USD/CHF opened the day at 0.8859, peaked at 0.8876, but turned around sliding to 0.8860 area by the moment.
New highs ahead
The pair refreshed monthly high posting 0.8872 on Friday. However, the further move up will be a hard task given the lack of important data from the Switzerland, and the USA. We already got Swiss Retail Sales printing surprising 3.0% y/y vs 1.9% expected, but the market completely ignored the readings. The only report of interest now is American Retail Sales data scheduled for release on Tuesday. The recent Labor Market report confirmed the strong rise of employment levels that could have translated into stronger consumer demand in April. If so, the pair may continue the move higher with initial target at 0.8892 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8845 with support below at 0.8817, 0.8770, and 0.8742, with resistance above at 0.8892, 0.8920, and 0.8967. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8790 and the daily 20EMA flat at 0.8808. Hourly RSI is bullish at 72.
New highs ahead
The pair refreshed monthly high posting 0.8872 on Friday. However, the further move up will be a hard task given the lack of important data from the Switzerland, and the USA. We already got Swiss Retail Sales printing surprising 3.0% y/y vs 1.9% expected, but the market completely ignored the readings. The only report of interest now is American Retail Sales data scheduled for release on Tuesday. The recent Labor Market report confirmed the strong rise of employment levels that could have translated into stronger consumer demand in April. If so, the pair may continue the move higher with initial target at 0.8892 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8845 with support below at 0.8817, 0.8770, and 0.8742, with resistance above at 0.8892, 0.8920, and 0.8967. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8790 and the daily 20EMA flat at 0.8808. Hourly RSI is bullish at 72.