Back
7 Jan 2014
USD/CHF is ready to go north
FXstreet.com (Moscow) - USD/CHF is on the rise from the open, and is testing 0.9066 resistance at the moment.
US data may help to rise but not right now
The pair ran into strong resistance level at 0.9066, and is testing it at the moment. Lack of economic data only supports the consolidating moves within tight range. Nevertheless, recent confirmation vote for new chairman though having a nominal nature gave some support to USD, and focused the market attention on recent FOMC meeting minutes. Remember, it was the meeting where the FED finally started the long-awaited tapering. So, it will be interesting to learn what was behind the move, and potentially we may see new splash of demand on USD. Moreover, don’t forget about the US labor data, released during the second half of the week. It also may prove supportive for the pair. When 0.9066 is finally broken, the next target will be at 0.9094.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9043 with support below at 0.9015 (S1), 0.8992 (S2) and 0.8964 (S3), with resistance above at 0.9066 (R1), 0.9094 (R2), and 0.9117 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8957 and the daily 20EMA bullish at 0.8968. Hourly RSI is neutral at 74.
US data may help to rise but not right now
The pair ran into strong resistance level at 0.9066, and is testing it at the moment. Lack of economic data only supports the consolidating moves within tight range. Nevertheless, recent confirmation vote for new chairman though having a nominal nature gave some support to USD, and focused the market attention on recent FOMC meeting minutes. Remember, it was the meeting where the FED finally started the long-awaited tapering. So, it will be interesting to learn what was behind the move, and potentially we may see new splash of demand on USD. Moreover, don’t forget about the US labor data, released during the second half of the week. It also may prove supportive for the pair. When 0.9066 is finally broken, the next target will be at 0.9094.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9043 with support below at 0.9015 (S1), 0.8992 (S2) and 0.8964 (S3), with resistance above at 0.9066 (R1), 0.9094 (R2), and 0.9117 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8957 and the daily 20EMA bullish at 0.8968. Hourly RSI is neutral at 74.