28 May 2014
USD/CHF ignored Swiss GDP, holds ties with 0.8970
FXStreet (Moscow) - USD/CHF opened the day at 0.8965, and swayed around practically ignoring the Swiss data.
The uptrend stays intact so far
The just released first quarter GDP growth in Switzerland showed a pickup in 1Q growth to 0.5% q/q after a 0.2% q/q increase in the fourth quarter, but still below expectations of 0.6% rise. However, the yearly growth came above the forecasts printing 2.0% vs 1.9% expected. The readings are important on the back of April comments from the SNB President Jordan who warned on the possibility of weaker than expected data in the first quarter. Meanwhile, the mixed data was practicallyignored by the market, and the pair continued to trade around 0.8970 sliding to 0.8965 at the moment.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8961 with support below at 0.8938, 0.8913, and 0.8890, with resistance above at 0.8986, 0.9009, and 0.9034. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8935 and the daily 20EMA bullish at 0.8895. Hourly RSI is bullish at 59.
The uptrend stays intact so far
The just released first quarter GDP growth in Switzerland showed a pickup in 1Q growth to 0.5% q/q after a 0.2% q/q increase in the fourth quarter, but still below expectations of 0.6% rise. However, the yearly growth came above the forecasts printing 2.0% vs 1.9% expected. The readings are important on the back of April comments from the SNB President Jordan who warned on the possibility of weaker than expected data in the first quarter. Meanwhile, the mixed data was practicallyignored by the market, and the pair continued to trade around 0.8970 sliding to 0.8965 at the moment.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8961 with support below at 0.8938, 0.8913, and 0.8890, with resistance above at 0.8986, 0.9009, and 0.9034. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8935 and the daily 20EMA bullish at 0.8895. Hourly RSI is bullish at 59.