22 Jul 2014
USD/CHF ignored weak Swiss Trade data, but ready to rise
FXStreet (Moscow) - USD/CHF opened the day at 0.8977, edged higher to 0.8987, and looks ready to continue the move up.
The game of contrasts
The pair is in deep consolidation and only really interesting developments during American session may take the pair out of the tight range. The just released weaker than expected Swiss Trade Data failed to trigger any significant moves in the pair. The scheduled for release CPI and housing data may support the view the US economy is gathering pace in its recovery opposite to the euro zone showing some signs of contraction again. If so, the Swissy may come under pressure with initial target at 0.9001 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8981 with support below at 0.8970, 0.8961 and 0.8950, with resistance above at 0.8990, 0.9001, and 0.9010. Hourly Moving Averages are largely bullish, with the 200SMA bullish at 0.8951 and the daily 20EMA bullish at 0.8946. Hourly RSI is bullish at 53.
The game of contrasts
The pair is in deep consolidation and only really interesting developments during American session may take the pair out of the tight range. The just released weaker than expected Swiss Trade Data failed to trigger any significant moves in the pair. The scheduled for release CPI and housing data may support the view the US economy is gathering pace in its recovery opposite to the euro zone showing some signs of contraction again. If so, the Swissy may come under pressure with initial target at 0.9001 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8981 with support below at 0.8970, 0.8961 and 0.8950, with resistance above at 0.8990, 0.9001, and 0.9010. Hourly Moving Averages are largely bullish, with the 200SMA bullish at 0.8951 and the daily 20EMA bullish at 0.8946. Hourly RSI is bullish at 53.