26 May 2014
USD/CHF is at the crossroads, waiting for new catalysts
FXStreet (Moscow) - USD/CHF is trying to recover from current low of 0.8948, though the bullish momentum is weak
Euro is a weak link of Swissy
While the pair was not able to break above 0.8970 area of resistance on its move higher, the coming week may give new opportunities to refresh highs. The euro weakness, and buck strength is the recipe of the swissy decrease. However, there are Swiss GDP numbers scheduled for release on Tuesday, and stronger than expected data may at least interrupt the dogmatic uptrend we have seen from the early May. The downside for now may be limited by 0.8940 support level, while the upside is defended by 0.8975 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8956 with support below at 0.8940, 0.8921 and 0.8905, with resistance above at 0.8975, 0.8991, and 0.9010. Hourly Moving Averages are bullish, with the 200SMA at 0.8921 and the daily 20EMA bullish at 0.8882. Hourly RSI is bullish at 61.
Euro is a weak link of Swissy
While the pair was not able to break above 0.8970 area of resistance on its move higher, the coming week may give new opportunities to refresh highs. The euro weakness, and buck strength is the recipe of the swissy decrease. However, there are Swiss GDP numbers scheduled for release on Tuesday, and stronger than expected data may at least interrupt the dogmatic uptrend we have seen from the early May. The downside for now may be limited by 0.8940 support level, while the upside is defended by 0.8975 resistance.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8956 with support below at 0.8940, 0.8921 and 0.8905, with resistance above at 0.8975, 0.8991, and 0.9010. Hourly Moving Averages are bullish, with the 200SMA at 0.8921 and the daily 20EMA bullish at 0.8882. Hourly RSI is bullish at 61.