8 May 2014
USD/CHF paused around 0.8760 resistance
FXStreet (Moscow) - USD/CHF opened the day at 0.8761, and slowly retreated to 0.8750 area by the moment.
The uptrend on tap?
The recently released Swiss CPI in April came out at +0.1% as expected, thus, was completely ignored by the market. The Swissy came back to 0.8760 resistance again, after failed attempt to reach 0.87 support on Monday. The history repeated, and now the pair may go up on corrective move even without any catalysts at hand. Besides, although the ECB meeting has no direct impact on the Swissy, the euro direction may affect the CHF mood. And dovish comment from Draghi may help the pair break above the nearest resistance with the next target at 0.8775.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8754 with support below at 0.8742, 0.8721, and 0.8709, with resistance above at 0.8775, 0.8787, and 0.8808. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8788 and the daily 20EMA bearish at 0.8803. Hourly RSI is bullish at 54.
The uptrend on tap?
The recently released Swiss CPI in April came out at +0.1% as expected, thus, was completely ignored by the market. The Swissy came back to 0.8760 resistance again, after failed attempt to reach 0.87 support on Monday. The history repeated, and now the pair may go up on corrective move even without any catalysts at hand. Besides, although the ECB meeting has no direct impact on the Swissy, the euro direction may affect the CHF mood. And dovish comment from Draghi may help the pair break above the nearest resistance with the next target at 0.8775.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8754 with support below at 0.8742, 0.8721, and 0.8709, with resistance above at 0.8775, 0.8787, and 0.8808. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8788 and the daily 20EMA bearish at 0.8803. Hourly RSI is bullish at 54.