4 Mar 2014
USD/CHF need some sleep before new fall
FXStreet (Moscow) - USD/CHF spent the morning in very tight ranges showing hesitation on further direction; inability to break above 0.8840 sent the pair to 0.8824 at the moment.
Follow the news
The pair barely reacted to the news about Russian troops finishing military exercise. Despite a rebound from 0.88 area to current 0.8830, the slide back is not ruled out. The Swissy is well-known by its safe-heaven nature, and any new rumor or comment on possible conflict escalation in Ukraine may exaggerate the interest to the Swiss currency. The market already realized that it misunderstood the breaking news about Russian military forces, thus the pair may resume the drift lower soon, given the absence of key economic releases scheduled for today. The downside is limited by 0.8817 support level, followed by 0.8798.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8817 with support below at 0.8798, 0.8761, and 0.8742, with resistance above at 0.8854, 0.8873, and 0.8910. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8872 and the daily 20EMA bearish at 0.8911. Hourly RSI is neutral at 64.
Follow the news
The pair barely reacted to the news about Russian troops finishing military exercise. Despite a rebound from 0.88 area to current 0.8830, the slide back is not ruled out. The Swissy is well-known by its safe-heaven nature, and any new rumor or comment on possible conflict escalation in Ukraine may exaggerate the interest to the Swiss currency. The market already realized that it misunderstood the breaking news about Russian military forces, thus the pair may resume the drift lower soon, given the absence of key economic releases scheduled for today. The downside is limited by 0.8817 support level, followed by 0.8798.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8817 with support below at 0.8798, 0.8761, and 0.8742, with resistance above at 0.8854, 0.8873, and 0.8910. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8872 and the daily 20EMA bearish at 0.8911. Hourly RSI is neutral at 64.