24 Apr 2014
USD/CHF – 0.88 is a point of gravitation
FXStreet (Moscow) - USD/CHF opened the day at 0.8831, and drifted lower reaching 0.8812 low by the moment.
US data may stop the slide
Although the pair slid to 0.88 area yesterday, and shows some attempts to repeat this again, the further move down will be a hard task given the buyers’ interest around that area, and the looming US data that may prove to be better than expected. The Swissy got some support from stronger German Ifo readings, but the positive momentum faded away already. The initial jobless claims may be of interest today as the reading may show the further reduction of the unemployed in the American economy. If 4-week moving average continues to move lower, it may support the demand on the USD with initial target at 0.8857 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8832 with support below at 0.8808, 0.8783, and 0.8759, with resistance above at 0.8857, 0.8881, and 0.8906. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8818 and the daily 20EMA neutral at 0.8830. Hourly RSI is bullish at 51.
US data may stop the slide
Although the pair slid to 0.88 area yesterday, and shows some attempts to repeat this again, the further move down will be a hard task given the buyers’ interest around that area, and the looming US data that may prove to be better than expected. The Swissy got some support from stronger German Ifo readings, but the positive momentum faded away already. The initial jobless claims may be of interest today as the reading may show the further reduction of the unemployed in the American economy. If 4-week moving average continues to move lower, it may support the demand on the USD with initial target at 0.8857 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8832 with support below at 0.8808, 0.8783, and 0.8759, with resistance above at 0.8857, 0.8881, and 0.8906. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8818 and the daily 20EMA neutral at 0.8830. Hourly RSI is bullish at 51.