12 Dec 2013
USD/CHF ranging ahead of double CB action
FXstreet.com (Barcelona) - Having ranged overnight, between 0.8861-0.8875, USD/CHF has declined from its session highs to where it is presently trading at 0.8864, down -0.01%.
USD/CHF led by double Central Bank action
USD/CHF looks to be lead this morning by the dual Central Bank action of the SNB, and the ECB. ECB President Draghi is due to speak at 08:00 GMT, followed by the SNB Interest Rate decision at 08:30 GMT, before the ECB Monthly Report and the SNB Press Conference at 09:00 GMT. Later in the morning, Eurozone Industrial Production is scheduled at 10:00 GMT. Presently spot is range trading, and looks supported, but any break lower would quickly expose the two year low at 0.8840, quoted yesterday.
What are today’s key USD/CHF levels and patterns?
Hourly RSI presently sits at 37, with ADX at 12. The The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are overbought and slightly bullish respectively. Today’s pivot point is at 0.8865, with support below at 0.8841 (S1), 0.8817 (S2) and 0.8793 (S3), and resistance ahead at 0.8889 (R1), 0.8913 (R2) and 0.8937 (R3). The range between 0.8865-0.8831 shows support could be found at a series of key technical levels which are clustered in the region. An hourly Hammer candlestick pattern can also be seen.
USD/CHF led by double Central Bank action
USD/CHF looks to be lead this morning by the dual Central Bank action of the SNB, and the ECB. ECB President Draghi is due to speak at 08:00 GMT, followed by the SNB Interest Rate decision at 08:30 GMT, before the ECB Monthly Report and the SNB Press Conference at 09:00 GMT. Later in the morning, Eurozone Industrial Production is scheduled at 10:00 GMT. Presently spot is range trading, and looks supported, but any break lower would quickly expose the two year low at 0.8840, quoted yesterday.
What are today’s key USD/CHF levels and patterns?
Hourly RSI presently sits at 37, with ADX at 12. The The FXstreet.com propriatary indicators, the OB/OS Index and the Trend Index are overbought and slightly bullish respectively. Today’s pivot point is at 0.8865, with support below at 0.8841 (S1), 0.8817 (S2) and 0.8793 (S3), and resistance ahead at 0.8889 (R1), 0.8913 (R2) and 0.8937 (R3). The range between 0.8865-0.8831 shows support could be found at a series of key technical levels which are clustered in the region. An hourly Hammer candlestick pattern can also be seen.