26 Nov 2013
USD/CHF pushes below 0.9100 on ECB comments
FXstreet.com (Barcelona) - Having ranged overnight posting a high at 0.9123, USD/CHF has pushed below the 0.9100 level to post a daily low at 0.9074 before retracing to where it is presently trading at 0.9082, down -0.37% on the day.
USD/CHF declines on ECB commentary
USD/CHF, with its negative correlation with EUR/USD has pushed below the 0.9100 level on comments made by the ECB’s Coeure which lead to a spike higher in EUR/USD. Coeure offered nothing new, stating that the ECB can’t be held entirely responsible for Eurozone growth, the ECB will deliver on price stability mandate, that he doesn’t see disinflation worsening if growth weakens, and also kept the prospect of negative rates alive as one of the tools at the ECB’s disposal. Yesterday evening, the SNB’s Jordan reiterated that he saw no reason to remove the ceiling on the Swiss Franc.
Today’s key USD/CHF levels
The central pivot point is located at 0.9097. Pivot supports for this pair are to be found at 0.9043 (S1), 0.9013 (S2) and 0.8959 (S3). Conversely, daily pivot resistances can be found at 0.9127 (R1), 0.9181 (R2) and 0.9211 (R3). Special attention should be paid to the price range 0.9091-0.9057 where several technical levels are confluent today.
USD/CHF declines on ECB commentary
USD/CHF, with its negative correlation with EUR/USD has pushed below the 0.9100 level on comments made by the ECB’s Coeure which lead to a spike higher in EUR/USD. Coeure offered nothing new, stating that the ECB can’t be held entirely responsible for Eurozone growth, the ECB will deliver on price stability mandate, that he doesn’t see disinflation worsening if growth weakens, and also kept the prospect of negative rates alive as one of the tools at the ECB’s disposal. Yesterday evening, the SNB’s Jordan reiterated that he saw no reason to remove the ceiling on the Swiss Franc.
Today’s key USD/CHF levels
The central pivot point is located at 0.9097. Pivot supports for this pair are to be found at 0.9043 (S1), 0.9013 (S2) and 0.8959 (S3). Conversely, daily pivot resistances can be found at 0.9127 (R1), 0.9181 (R2) and 0.9211 (R3). Special attention should be paid to the price range 0.9091-0.9057 where several technical levels are confluent today.