14 Apr 2014
USD/CHF is not climbing, but stopped falling
FXStreet (Moscow) - USD/CHF started the day at 0.8777, and since that time hardly moved 15 pips.
Who will stop the Swissy
The pair is on the way to March lows around 0.87 area, and it successfully broke below minor support levels during the recent week. Nevertheless, the recent comments from the SNB’s Jordan on still very low inflation in Switzerland stopped the rally of the Swissy, as it was interpreted as a hint on too strong national currency. Now it needs to get really strong catalyst to refresh not only monthly lows, but also multi-year ones. The US Retail Sales are of interest for tonight, as it may stop the series of disappointments from the American first tier data. USD lost popularity due to various reasons, and it may offset some of negative factors during this week. If so, we may see a rebound higher with initial target at 0.8805 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8758 with support below at 0.8745, 0.8728, and 0.8715, with resistance above at 0.8775, 0.8788, and 0.8805. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8844 and the daily 20EMA bearish at 0.8830. Hourly RSI is bullish at 55.
Who will stop the Swissy
The pair is on the way to March lows around 0.87 area, and it successfully broke below minor support levels during the recent week. Nevertheless, the recent comments from the SNB’s Jordan on still very low inflation in Switzerland stopped the rally of the Swissy, as it was interpreted as a hint on too strong national currency. Now it needs to get really strong catalyst to refresh not only monthly lows, but also multi-year ones. The US Retail Sales are of interest for tonight, as it may stop the series of disappointments from the American first tier data. USD lost popularity due to various reasons, and it may offset some of negative factors during this week. If so, we may see a rebound higher with initial target at 0.8805 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8758 with support below at 0.8745, 0.8728, and 0.8715, with resistance above at 0.8775, 0.8788, and 0.8805. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8844 and the daily 20EMA bearish at 0.8830. Hourly RSI is bullish at 55.