9 Jan 2014
USD/CHF is firmly positioned above 0.91 area
FXstreet.com (Moscow) - USD/CHF stalled around 0.9120 area and retraced to 0.9110 at the moment after impressive rally we saw the whole week.
Unemployment claims – the last piece to the puzzle
Psychological barrier 0.91 was not so easy to overcome – even quite positive FOMC minutes were not able to help the pair at first. Nevertheless, the pair still have potential to move up, but the catalyst must be even stronger. By the moment we have one of that kind – the Non-Farm Payrolls, which are expected to be quite positive. The leading indicators of Labor market (ISM employment components and ADP report) give us hope to see the employment level above 200K. Today we will get the last piece of the puzzle – unemployment claims. If the number is lower than expected, we may see the move to 0.9131 resistance level followed by 0.9156.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9104 with support below at 0.9079 (S1), 0.9052 (S2) and 0.9027 (S3), with resistance above at 0.9131 (R1), 0.9156 (R2), and 0.9183 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8992 and the daily 20EMA bullish at 0.8992. Hourly RSI is neutral at 61.
Unemployment claims – the last piece to the puzzle
Psychological barrier 0.91 was not so easy to overcome – even quite positive FOMC minutes were not able to help the pair at first. Nevertheless, the pair still have potential to move up, but the catalyst must be even stronger. By the moment we have one of that kind – the Non-Farm Payrolls, which are expected to be quite positive. The leading indicators of Labor market (ISM employment components and ADP report) give us hope to see the employment level above 200K. Today we will get the last piece of the puzzle – unemployment claims. If the number is lower than expected, we may see the move to 0.9131 resistance level followed by 0.9156.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9104 with support below at 0.9079 (S1), 0.9052 (S2) and 0.9027 (S3), with resistance above at 0.9131 (R1), 0.9156 (R2), and 0.9183 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8992 and the daily 20EMA bullish at 0.8992. Hourly RSI is neutral at 61.