11 Apr 2014
USD/CHF nears the strong support around 0.8750/40 area
FXStreet (Moscow) - USD/CHF resumed the slide, posting new 3-week low at 0.8749, and rebounding to 0.8750 area by the moment.
US PPI on tap
The pair was very consistent in its moderate move lower right from April, 4 when slightly weaker than expected Non-Farm Payrolls from the USA were released. We already saw 200-pip slide down, and it looks like the Swissy strength is fading away posting new April lows. The 0.8750 area is going to be hard to overcome on the back of empty calendar, and with weekend looming. Although we don’t have 1-tier data from the USA for today, we still may see some rebound higher on the expectations of stronger than forecasted American PPI data, especially on the back of positive import prices released yesterday. If so, the initial target to the upside is at 0.8775 resistance level followed by 0.8798.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8775 with support below at 0.8741, 0.8718, and 0.8684, with resistance above at 0.8798, 0.8832, and 0.8855. Hourly Moving Averages are bearish, with the 200SMA at 0.8853 and the daily 20EMA bearish at 0.8837. Hourly RSI is bearish at 39.
US PPI on tap
The pair was very consistent in its moderate move lower right from April, 4 when slightly weaker than expected Non-Farm Payrolls from the USA were released. We already saw 200-pip slide down, and it looks like the Swissy strength is fading away posting new April lows. The 0.8750 area is going to be hard to overcome on the back of empty calendar, and with weekend looming. Although we don’t have 1-tier data from the USA for today, we still may see some rebound higher on the expectations of stronger than forecasted American PPI data, especially on the back of positive import prices released yesterday. If so, the initial target to the upside is at 0.8775 resistance level followed by 0.8798.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8775 with support below at 0.8741, 0.8718, and 0.8684, with resistance above at 0.8798, 0.8832, and 0.8855. Hourly Moving Averages are bearish, with the 200SMA at 0.8853 and the daily 20EMA bearish at 0.8837. Hourly RSI is bearish at 39.