30 Apr 2014
USD/CHF is disappointed by weak euro, pressured by strong USD
FXStreet (Moscow) - USD/CHF opened the day at 0.8833, edged to 0.8841 session high, and lost a couple of pips by the moment.
New reasons to make Swissy sad
The Swissy was under sell-off again yesterday coming closer to last week lows around 0.8860. The currency lost ground due to broad weakness of the euro against USD, and the move may continue today since the EMU CPI data may disappoint again. The just released Swiss KOF Index was lower than expected, but was completely ignored by the market. Besides, there are plenty of the US data in store for today. The market may focus its attention on ADP data, as the reading is perceived as the leading indicator for the Non-Farm Payroll report. If numbers surprise to the upside, wait for the move higher with initial target at 0.8859 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8822 with support below at 0.8797, 0.8760, and 0.8735, with resistance above at 0.8859, 0.8884, and 0.8921. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8825 and the daily 20EMA flat at 0.8826. Hourly RSI is bullish at 63.
New reasons to make Swissy sad
The Swissy was under sell-off again yesterday coming closer to last week lows around 0.8860. The currency lost ground due to broad weakness of the euro against USD, and the move may continue today since the EMU CPI data may disappoint again. The just released Swiss KOF Index was lower than expected, but was completely ignored by the market. Besides, there are plenty of the US data in store for today. The market may focus its attention on ADP data, as the reading is perceived as the leading indicator for the Non-Farm Payroll report. If numbers surprise to the upside, wait for the move higher with initial target at 0.8859 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8822 with support below at 0.8797, 0.8760, and 0.8735, with resistance above at 0.8859, 0.8884, and 0.8921. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8825 and the daily 20EMA flat at 0.8826. Hourly RSI is bullish at 63.