4 Feb 2014
USD/CHF is trying to get up from its knees
FXStreet (Moscow) - USD/CHF moved up and down during the Asian session; it reached morning high 0.9035, rebounded to 0.9008, and again on the rise at the moment.
USD/CHF again stumbled
USD/CHF rebounded after reaching 0.9080 resistance level, though the nature of the correction was more fundamental, than technical. The weaker than expected US ISM fueled the fears of disappointment from Friday’s NFP – not only the headline index dropped by its most since 2008, but also the employment sub-index also tumbled from 55.8 to 52.3. Today the economic calendar is barren, but a number of the FED officials are scheduled to speak. The comments on fragility of the US recovery, and long way to tightening may put the pair under additional pressure. The downside is limited by support level at 0.9033, and to the upside the initial target will be at 0.9063 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9033 with support below at 0.8983, 0.8953, and 0.8903, with resistance above at 0.9063, 0.9113, and 0.9143. Hourly Moving Averages are largely bullish, with the 200SMA at 0.9006 and the daily 20EMA flat at 0.9019. Hourly RSI is neutral at 50.
USD/CHF again stumbled
USD/CHF rebounded after reaching 0.9080 resistance level, though the nature of the correction was more fundamental, than technical. The weaker than expected US ISM fueled the fears of disappointment from Friday’s NFP – not only the headline index dropped by its most since 2008, but also the employment sub-index also tumbled from 55.8 to 52.3. Today the economic calendar is barren, but a number of the FED officials are scheduled to speak. The comments on fragility of the US recovery, and long way to tightening may put the pair under additional pressure. The downside is limited by support level at 0.9033, and to the upside the initial target will be at 0.9063 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9033 with support below at 0.8983, 0.8953, and 0.8903, with resistance above at 0.9063, 0.9113, and 0.9143. Hourly Moving Averages are largely bullish, with the 200SMA at 0.9006 and the daily 20EMA flat at 0.9019. Hourly RSI is neutral at 50.