1 May 2014
USD/CHF will get some fuel from US
FXStreet (Moscow) - USD/CHF opened the day at 0.8802, jogged around, and resumed the slide down posting session low at 0.8783.
Focus on US data
Although the pair showed some weakness in the morning supported by demand on major European currencies, the move back above 0.88 resistance is not ruled out given the busy US economic calendar ahead. As we still have key Non-Farm Payrolls release on Friday, the market may focus on any labor readings coming short-term. We already have better than expected ADP results, supporting the possibility of positive employment outcome on Friday. If today’s US Jobless Claims, and Manufacturing ISM prove to be better than expected, we may see the move above 0.88 with the next target at 0.8816.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8816 with support below at 0.8780, 0.8755, and 0.8719, with resistance above at 0.8841, 0.8877, and 0.8902. Hourly Moving Averages are bearish, with the 200SMA at 0.8823 and the daily 20EMA flat at 0.8824. Hourly RSI is bearish at 38.
Focus on US data
Although the pair showed some weakness in the morning supported by demand on major European currencies, the move back above 0.88 resistance is not ruled out given the busy US economic calendar ahead. As we still have key Non-Farm Payrolls release on Friday, the market may focus on any labor readings coming short-term. We already have better than expected ADP results, supporting the possibility of positive employment outcome on Friday. If today’s US Jobless Claims, and Manufacturing ISM prove to be better than expected, we may see the move above 0.88 with the next target at 0.8816.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8816 with support below at 0.8780, 0.8755, and 0.8719, with resistance above at 0.8841, 0.8877, and 0.8902. Hourly Moving Averages are bearish, with the 200SMA at 0.8823 and the daily 20EMA flat at 0.8824. Hourly RSI is bearish at 38.