Filed Under:
Forex pairs in this Article » EUR/USD, USD/CHF
FXStreet (Moscow) - USD/CHF was testing 0.8860 area reaching 0.8858 low early in the morning, but worse than expected EMU PMI data triggered the rebound to 0.8890.

USD/CHF waits for the US data to go lower

The recently released Swiss trade balance from January showed + CHF2.594 bln vs +521 mln previously, only supporting the idea of strong economy recovery. However, the series of weaker than expected PMI pressured the Swissy, sending the pair to 0.89 area. Nevertheless, the pair may resume the slide to last December lows with a help of the USD weakness. Yesterday’s disappointments from the US housing reports fueled the slide to 0.8855 low, and today the pair may have another attempt to go lower on the release of the US data. Inflation numbers are very important for the market to assess the chances of further FED tapering in March. Weaker than expected CPI may target the pair at 0.8837 support level when 0.8861 is broken.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.8879 with support below at 0.8861, 0.8837, and 0.8819, with resistance above at 0.8903, 0.8921, and 0.8945. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8939 and the daily 20EMA bearish at 0.8968. Hourly RSI is neutral at 40.
comments powered by Disqus