Back
27 May 2014
USD/CHF is sidelined before data
FXStreet (Moscow) - USD/CHF is sitting in a narrow 5-pips range as the traders are waiting for important macro data
Swissy’s comeback
The breakout of 0.8970 area failed last week, thus triggering correction back to 0.8950 support. Absence of any economic events and mildly positive results of European elections helped the Swissy to gain some interest. Nevertheless, today the market will get more fuel with Swiss GDP and Trade Balance numbers, followed by the US reports on the agenda. The news out of Switzerland may support the view of recovering economy, thus, triggering some demand on the national currency. In this case, the pair may continue the downward move with the initial target at 0.8930
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8951 with support below at 0.8933, 0.8919 and 0.8901, with resistance above at 0.8965, 0.8983, and 0.8997. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8928 and the daily 20EMA bullish at 0.8882. Hourly RSI is bearish at 37.
Swissy’s comeback
The breakout of 0.8970 area failed last week, thus triggering correction back to 0.8950 support. Absence of any economic events and mildly positive results of European elections helped the Swissy to gain some interest. Nevertheless, today the market will get more fuel with Swiss GDP and Trade Balance numbers, followed by the US reports on the agenda. The news out of Switzerland may support the view of recovering economy, thus, triggering some demand on the national currency. In this case, the pair may continue the downward move with the initial target at 0.8930
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8951 with support below at 0.8933, 0.8919 and 0.8901, with resistance above at 0.8965, 0.8983, and 0.8997. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8928 and the daily 20EMA bullish at 0.8882. Hourly RSI is bearish at 37.