29 May 2014
USD/CHF made a U-turn at 0.8970
FXStreet (Moscow) - USD/CHF opened the day at 0.8982, posted 0.8968 low, but staged a rebound to 0.8980 area at the moment.
USD retreats to come back
The yesterday’s slide of the pair during American session is attributed to the fact that US 10Y treasury yields continue to slide reaching its 11-month low without any specific reason. Although USD/CHF managed to rebound back to 0.8989 after falling to 0.8963, the decrease of the pair resumed today. The pair already reached 0.8968 session low, and may continue the move lower with the next support level to meet at 0.8952, although now we see a mild rebound from this area that brought the pair back to the open levels. Since the European calendar is empty for today, the sled of US data during American session may become the next trigger of moves.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8980 with support below at 0.8968, 0.8952, and 0.8940, with resistance above at 0.8996, 0.9008, and 0.9024. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8944 and the daily 20EMA bullish at 0.8904. Hourly RSI is bearish at 49.
USD retreats to come back
The yesterday’s slide of the pair during American session is attributed to the fact that US 10Y treasury yields continue to slide reaching its 11-month low without any specific reason. Although USD/CHF managed to rebound back to 0.8989 after falling to 0.8963, the decrease of the pair resumed today. The pair already reached 0.8968 session low, and may continue the move lower with the next support level to meet at 0.8952, although now we see a mild rebound from this area that brought the pair back to the open levels. Since the European calendar is empty for today, the sled of US data during American session may become the next trigger of moves.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8980 with support below at 0.8968, 0.8952, and 0.8940, with resistance above at 0.8996, 0.9008, and 0.9024. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8944 and the daily 20EMA bullish at 0.8904. Hourly RSI is bearish at 49.