9 May 2014
USD/CHF climbed above 0.88, and show must go on
FXStreet (Moscow) - USD/CHF opened the day at 0.8799, and slowly moved up reaching 0.8819, and trading around at the moment.
The uptrend on tap!
The 0.88 resistance area is again on the agenda thanks to dovish Draghi comments that not only pressured the euro, but also weakened the demand on the Swissy. Although the USD is not so popular nowadays, the further slide of the single currency may continue to pressure the CHF, thus once the breakout of the nearest resistance is confirmed we will see the move higher with initial target at 0.8838 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8770 with support below at 0.8735, 0.8667, and 0.8632, with resistance above at 0.8838, 0.8873, and 0.8941. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8785 and the daily 20EMA bearish at 0.8803. Hourly RSI is bullish at 67.
The uptrend on tap!
The 0.88 resistance area is again on the agenda thanks to dovish Draghi comments that not only pressured the euro, but also weakened the demand on the Swissy. Although the USD is not so popular nowadays, the further slide of the single currency may continue to pressure the CHF, thus once the breakout of the nearest resistance is confirmed we will see the move higher with initial target at 0.8838 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8770 with support below at 0.8735, 0.8667, and 0.8632, with resistance above at 0.8838, 0.8873, and 0.8941. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8785 and the daily 20EMA bearish at 0.8803. Hourly RSI is bullish at 67.