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1 Apr 2014
USD/CHF is testing 0.8830 area
FXStreet (Moscow) - USD/CHF started the day at 0.8845, and spent the morning within 10-pip range; but the demand on the euro translated to the swissy, and it slid to 0.8829 low.
The Swissy is still vulnerable for losses
Although the pair tried to resume the slide, the pair met buyers’ demand around 0.8830, and may reverse the move soon. USD/CHF lost the momentum yesterday on the back of dovish comments of the main dove of the FED – Jannet Yellen. Although she didn’t touch upon the monetary policy course, she did said that "considerable slack" remained in the US economy, and this would require further stimulus measures. Such words were enough for the market to start selling USD again, and it brought the pair back to 0.8340 area. Nevertheless, the recovery of USD/CHF is still not ruled out, if scheduled for release US ISM data prove to be better than expected. The employment component will be of the most importance given the Non-Farm Report looming. The initial target to the upside is at 0.8882 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8853 with support below at 0.8816, 0.8787 and 0.8750, with resistance above at 0.8882, 0.8919, and 0.8948. Hourly Moving Averages are mixed, with the 200SMA at 0.8841 and the daily 20EMA flat at 0.8830. Hourly RSI is neutral at 44.
The Swissy is still vulnerable for losses
Although the pair tried to resume the slide, the pair met buyers’ demand around 0.8830, and may reverse the move soon. USD/CHF lost the momentum yesterday on the back of dovish comments of the main dove of the FED – Jannet Yellen. Although she didn’t touch upon the monetary policy course, she did said that "considerable slack" remained in the US economy, and this would require further stimulus measures. Such words were enough for the market to start selling USD again, and it brought the pair back to 0.8340 area. Nevertheless, the recovery of USD/CHF is still not ruled out, if scheduled for release US ISM data prove to be better than expected. The employment component will be of the most importance given the Non-Farm Report looming. The initial target to the upside is at 0.8882 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8853 with support below at 0.8816, 0.8787 and 0.8750, with resistance above at 0.8882, 0.8919, and 0.8948. Hourly Moving Averages are mixed, with the 200SMA at 0.8841 and the daily 20EMA flat at 0.8830. Hourly RSI is neutral at 44.