7 Feb 2014
USD/CHF is drinking tea at 0.90
FXStreet (Moscow) - USD/CHF again showed the signs of strengthening in the morning reaching 0.9013 local high, and sliding back to 0.9001 at the moment.
USD/CHF was intervened
The swissy in consolidation mode around 0.90. The pair moves yesterday were the least expected, and still unexplained. When something like this happens everybody starts to talk about intervention, and this time is not an exception – somebody ran from the euro on Draghi comments, and parked its assets in safe heaven swissy, as the same moves we saw in crosses with GBP, and JPY. Since this moves are unnatural for the market, we may see a sharp reversal, especially if US data proved to be better than expected. To the upside the initial target is at 0.9058. The downside is limited by the support level at 0.8961.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9013 with support below at 0.8961, 0.8916, and 0.8864, with resistance above at 0.9058, 0.9110, and 0.9155. Hourly Moving Averages are largely bearish, with the 200SMA at 0.9015 and the daily 20EMA flat at 0.9021. Hourly RSI is neutral at 44.
USD/CHF was intervened
The swissy in consolidation mode around 0.90. The pair moves yesterday were the least expected, and still unexplained. When something like this happens everybody starts to talk about intervention, and this time is not an exception – somebody ran from the euro on Draghi comments, and parked its assets in safe heaven swissy, as the same moves we saw in crosses with GBP, and JPY. Since this moves are unnatural for the market, we may see a sharp reversal, especially if US data proved to be better than expected. To the upside the initial target is at 0.9058. The downside is limited by the support level at 0.8961.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9013 with support below at 0.8961, 0.8916, and 0.8864, with resistance above at 0.9058, 0.9110, and 0.9155. Hourly Moving Averages are largely bearish, with the 200SMA at 0.9015 and the daily 20EMA flat at 0.9021. Hourly RSI is neutral at 44.