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Forex pairs in this Article » EUR/USD, USD/CHF
FXStreet (Moscow) - USD/CHF is still under pressure losing positions due to broad based US Dollar weakness; it reached 0.89 low in the morning, but managed to recover to 0.8916 at the moment.

USD/CHF may depreciate under US economy woes

The weaker than expected Swiss CPI data released last week proves there is still the danger of deflationary pressure in the economy. Such a notion may limit the abilities of CHF to go higher, though the recent unpopularity of the US Dollar may prove quite supportive for the Swiss currency. The US housing data scheduled for release this week will show whether another key sector of American economy is giving weak signals. If so, it may put the pair under pressure given the recent disappointments from the US retail sales and labor market. The initial target to the downside is 0.8882, whereas the upside is limited by 0.8940.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.8921 with support below at 0.8901, 0.8882, and 0.8862, with resistance above at 0.8940, 0.8960, and 0.8979. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8986 and the daily 20EMA bearish at 0.8994. Hourly RSI is neutral at 39.
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