15 Jan 2014
USD/CHF has found inner source to rise again
FXstreet.com (Moscow) - USD/CHF only touched 0.8986 low twice on Tuesday before another round of recovery that brought it to 0.9059 in Asia.
USD/CHF may have problems on the way up
The pair was able to recover again rebounding from 0.8990/0.90 support area to four-day high at 0.9066 in the morning acting as a resistance level for a moment. There are no catalysts to help the pair break that level. However, the scheduled for today and Thursday the US inflation data may bring disappointment, and trigger the rebound. Given the nearing FOMC meeting, CPI and PPI reports become even more significant. The easing price pressure in the economy may convince the FED not to rush with a tapering process, thus the weaker than expected numbers may stop the USD/CHF recovery sending it back to the nearest support level at 0.9014.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9014 with support below at 0.8994 (S1), 0.8966 (S2) and 0.8946 (S3), with resistance above at 0.9062 (R1), and 0.9090 (R2). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9050 and the daily 20EMA flat at 0.9003. Hourly RSI is neutral at 73.
USD/CHF may have problems on the way up
The pair was able to recover again rebounding from 0.8990/0.90 support area to four-day high at 0.9066 in the morning acting as a resistance level for a moment. There are no catalysts to help the pair break that level. However, the scheduled for today and Thursday the US inflation data may bring disappointment, and trigger the rebound. Given the nearing FOMC meeting, CPI and PPI reports become even more significant. The easing price pressure in the economy may convince the FED not to rush with a tapering process, thus the weaker than expected numbers may stop the USD/CHF recovery sending it back to the nearest support level at 0.9014.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9014 with support below at 0.8994 (S1), 0.8966 (S2) and 0.8946 (S3), with resistance above at 0.9062 (R1), and 0.9090 (R2). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9050 and the daily 20EMA flat at 0.9003. Hourly RSI is neutral at 73.