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2 Apr 2014
USD/CHF is around 0.8830 support again
FXStreet (Moscow) - USD/CHF started the day at 0.8833, and slid down reaching 0.8817 session low, but soon rebounded to open levels.
The amazing resilience of the Swissy
The pair shows moderate move down step by step reaching new lows, after it posted 1-month high on March, 28. Although the 0.8820 area is still strong resistance for the moment, another test of the level is not ruled out soon. The pair shows amazing resilience, although the US Dollar is well bid in most majors. The roots of such developments may be in continued diversification on the side of large institutional investors that slowed the demand on the euro and the swissy, but still show some interest to these European currencies. Today the market may focus on ADP numbers from the USA, and if data is positive, we may see the move higher with initial target at 0.8851 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8833 with support below at 0.8814, 0.8796 and 0.8777, with resistance above at 0.8851, 0.8870, and 0.8888. Hourly Moving Averages are bearish, with the 200SMA at 0.8843 and the daily 20EMA flat at 0.8830. Hourly RSI is neutral at 40.
The amazing resilience of the Swissy
The pair shows moderate move down step by step reaching new lows, after it posted 1-month high on March, 28. Although the 0.8820 area is still strong resistance for the moment, another test of the level is not ruled out soon. The pair shows amazing resilience, although the US Dollar is well bid in most majors. The roots of such developments may be in continued diversification on the side of large institutional investors that slowed the demand on the euro and the swissy, but still show some interest to these European currencies. Today the market may focus on ADP numbers from the USA, and if data is positive, we may see the move higher with initial target at 0.8851 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8833 with support below at 0.8814, 0.8796 and 0.8777, with resistance above at 0.8851, 0.8870, and 0.8888. Hourly Moving Averages are bearish, with the 200SMA at 0.8843 and the daily 20EMA flat at 0.8830. Hourly RSI is neutral at 40.