5 Dec 2013
USD/CHF retraces morning decline
FXstreet.com (Barcelona) - Having dropped below 0.9000 in early trading to post a low since late October at 0.8984, led by EUR/USD stops triggered, USD/CHF has recovered and is presently trading at 0.9025, down just -0.01% on the day.
USD/CHF movement led by EUR/USD stops ahead of ECB
With USD/CHF and EUR/USD sharing strong negative correlation, this mornings stop triggered EUR/USD spike higher this morning, pushed USD/CHF below the key 0.9000 level to post a low since late October. A light early morning calendar has cast eyes on the upcoming ECB meet, and the pair has since recovered most of its declines to trade close to flat on the day.
What are today’s key USD/CHF levels?
Hourly RSI sits at 42, while stochastics are in oversold territory at 17. The hourly 200 SMA sits at 0.9097 and is bearish, while the daily 20 EMA is positioned at 0.9088 and also bearish. Today’s pivot point is at 0.9097, with support below at 0.9043 (S1), 0.9013 (S2) and 0.8959 (S3) and resistance above at 0.9127 (R1), 0.9181 (R2) and 0.9211 (R3). Special attention should be paid to the range between 0.9091-0.9057 where several key technical levels are clustered.
USD/CHF movement led by EUR/USD stops ahead of ECB
With USD/CHF and EUR/USD sharing strong negative correlation, this mornings stop triggered EUR/USD spike higher this morning, pushed USD/CHF below the key 0.9000 level to post a low since late October. A light early morning calendar has cast eyes on the upcoming ECB meet, and the pair has since recovered most of its declines to trade close to flat on the day.
What are today’s key USD/CHF levels?
Hourly RSI sits at 42, while stochastics are in oversold territory at 17. The hourly 200 SMA sits at 0.9097 and is bearish, while the daily 20 EMA is positioned at 0.9088 and also bearish. Today’s pivot point is at 0.9097, with support below at 0.9043 (S1), 0.9013 (S2) and 0.8959 (S3) and resistance above at 0.9127 (R1), 0.9181 (R2) and 0.9211 (R3). Special attention should be paid to the range between 0.9091-0.9057 where several key technical levels are clustered.