23 May 2014
USD/CHF is on the upside quest
FXStreet (Moscow) - USD/CHF is climbing higher as the pair started the day at 0.8941 and touched current levels of 0.8958
Swissy’s comeback
The uptrend of the pair stumbled around 0.8950/60 area again as it was on May, 15, and April,4. It may be the indication that large selling interest is around the area. Besides, yesterday’s PMI data put the nearing ECB rate cut under question, as there was no clear evidence the European economy was slowing (except for French readings). The released today German reports may only prove that the largest European economy is still gathering pace of growth, and this may be enough for the Swissy to regain short-term popularity given its strong correlation with the euro. The nearest support level lies around 0.8940.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8939 with support below at 0.8926, 0.8909 and 0.8896, with resistance above at 0.8956, 0.8969, and 0.8986. Hourly Moving Averages are bullish, with the 200SMA at 0.8914 and the daily 20EMA bullish at 0.8874. Hourly RSI is bullish at 59.
Swissy’s comeback
The uptrend of the pair stumbled around 0.8950/60 area again as it was on May, 15, and April,4. It may be the indication that large selling interest is around the area. Besides, yesterday’s PMI data put the nearing ECB rate cut under question, as there was no clear evidence the European economy was slowing (except for French readings). The released today German reports may only prove that the largest European economy is still gathering pace of growth, and this may be enough for the Swissy to regain short-term popularity given its strong correlation with the euro. The nearest support level lies around 0.8940.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8939 with support below at 0.8926, 0.8909 and 0.8896, with resistance above at 0.8956, 0.8969, and 0.8986. Hourly Moving Averages are bullish, with the 200SMA at 0.8914 and the daily 20EMA bullish at 0.8874. Hourly RSI is bullish at 59.