13 May 2014
USD/CHF will need more food for thoughts to break 0.89
FXStreet (Moscow) - USD/CHF opened the day at 0.8876, tried to slid to 0.8864, but soon returned back to initial levels.
Swissy weakness
The pair again refreshed monthly high posting 0.8880 on Monday, and stuck somewhere around for now. As risk aversive mood faded away, we may see another wave of demand on the pair soon. Today we will get US Retail Sales data that may help the pair to move further with initial target at 0.8903 resistance level. However, one important term should be met here – the data should be much stronger than expected to see the breakout of strong resistance at 0.89. Given the strength of Labor market the chances to see such scenario are quite high.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8874 with support below at 0.8861, 0.8845, and 0.8832, with resistance above at 0.8890, 0.8903, and 0.8919. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8795 and the daily 20EMA bullish at 0.8815. Hourly RSI is bullish at 58.
Swissy weakness
The pair again refreshed monthly high posting 0.8880 on Monday, and stuck somewhere around for now. As risk aversive mood faded away, we may see another wave of demand on the pair soon. Today we will get US Retail Sales data that may help the pair to move further with initial target at 0.8903 resistance level. However, one important term should be met here – the data should be much stronger than expected to see the breakout of strong resistance at 0.89. Given the strength of Labor market the chances to see such scenario are quite high.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8874 with support below at 0.8861, 0.8845, and 0.8832, with resistance above at 0.8890, 0.8903, and 0.8919. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8795 and the daily 20EMA bullish at 0.8815. Hourly RSI is bullish at 58.