Filed Under:
Forex pairs in this Article » EUR/USD, USD/CHF (Moscow) - USD/CHF showed impressive sell-off on Wednesday, but the buying interest around 0.8940 level triggered the correction to 0.8960 where it is trading at the moment.

USD/CHF is licking wounds after yesterday’s moves

USD/CHF was one of the stars of yesterday moves getting too much attention due to anti-risk sentiment. First, the wave of unconditional panic on EM markets, and second the FED tapering that triggered the conditional panic on EM-markets were the basis of impressive sell-out of USD/CHF. The thing is that in this pair the CHF is the safest of the two, and it will definitely continue to get much attention, if the central banks of emerging world won’t find a solution to reduce the tension. For now it reached 0.8935 low and rebounded to 0.8960. The positive US GDP scheduled for release later in the day may support the further move higher with initial resistance at 0.8998. The downside is limited by support levels at 0.8922 and 0.8890.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.8966 with support below at 0.8922 (S1), 0.8890 (S2) and 0.8846 (S3), with resistance above at 0.8998 (R1), 0.9042, and 0.9074 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9033 and the daily 20EMA bearish at 0.9013. Hourly RSI is neutral at 48.
comments powered by Disqus