4 Apr 2014
USD/CHF is attacking 0.8930 resistance
FXStreet (Moscow) - USD/CHF is testing 0.8930 resistance area, reaching session high at 0.8933.
Copy/paste from the Swissy
The swissy again followed the euro in its move down, losing almost 50 pips on the ECB decision and coming closer to strong barrier at 0.8930 which was last tested on February, 28. Now the question is not in weakness of the Swiss currency, but in the strength of the American one. There is a growing belief in the market that the US data will keep bringing positive surprises near-term, not only due to better weather conditions, but also due to recent optimistic comments from the FED officials. If today’s data comes above expectations it will only support this belief, and trigger another wave of buying with initial target at 0.8980 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8894 with support below at 0.8860, 0.8808 and 0.8774, with resistance above at 0.8946, 0.8980, and 0.9032. Hourly Moving Averages are bullish, with the 200SMA at 0.8846 and the daily 20EMA bullish at 0.8822. Hourly RSI is neutral at 71.
Copy/paste from the Swissy
The swissy again followed the euro in its move down, losing almost 50 pips on the ECB decision and coming closer to strong barrier at 0.8930 which was last tested on February, 28. Now the question is not in weakness of the Swiss currency, but in the strength of the American one. There is a growing belief in the market that the US data will keep bringing positive surprises near-term, not only due to better weather conditions, but also due to recent optimistic comments from the FED officials. If today’s data comes above expectations it will only support this belief, and trigger another wave of buying with initial target at 0.8980 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8894 with support below at 0.8860, 0.8808 and 0.8774, with resistance above at 0.8946, 0.8980, and 0.9032. Hourly Moving Averages are bullish, with the 200SMA at 0.8846 and the daily 20EMA bullish at 0.8822. Hourly RSI is neutral at 71.