25 Mar 2014
USD/CHF may test 0.88 support again
FXStreet (Moscow) - ">USD/CHF retraced from 1-week low at 0.8786 trading around 0.8810 at the moment.
The reasons to fall
The pair attempted to break below 0.88 overnight, but still the unexplained interest to the swissy against USD may return again. As today’s calendar has US Consumer Confidence, and New Home Sales in store, the pair has all the chances to test the mentioned support again, as January and February bad weather conditions could have constrained the consumer demand in real estate sector. If so, wait for the move down with initial target at 0.8775 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8821 with support below at 0.8775, 0.8741 and 0.8695, with resistance above at 0.8855, 0.8901, and 0.8935. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8773 and the daily 20EMA flat at 0.8816. Hourly RSI is neutral at 40.
The reasons to fall
The pair attempted to break below 0.88 overnight, but still the unexplained interest to the swissy against USD may return again. As today’s calendar has US Consumer Confidence, and New Home Sales in store, the pair has all the chances to test the mentioned support again, as January and February bad weather conditions could have constrained the consumer demand in real estate sector. If so, wait for the move down with initial target at 0.8775 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8821 with support below at 0.8775, 0.8741 and 0.8695, with resistance above at 0.8855, 0.8901, and 0.8935. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8773 and the daily 20EMA flat at 0.8816. Hourly RSI is neutral at 40.