FXStreet (Moscow) - USD/CHF opened the day at 0.8919, switched to rising mode reaching 0.8930 area, but rushed lower to 0.8910 on European markets opened firm.

Listen to Draghi

The pair moved lower influenced by the sharp euro rise on the European stock markets opened firmer. It look like it has more speculative nature, and the momentum may disappear soon. Although we saw recently the Swissy stuck in narrow range looking for more catalysts to move on, the current week will present more than enough for the pair to react. The looming industrial production from the euro zone is the least of them and may be ignored by the market, however, the scheduled for tonight Draghi’s speech is the one to be focused on, as the recent rumors on another wave of sovereign debt crises may make him be more dovish. In this case the swissy may come under additional pressure with 0.8947 resistance in store.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.8923 with support below at 0.8910, 0.8899, and 0.8886, with resistance above at 0.8934, 0.8947, and 0.8958. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8921 and the daily 20EMA flat at 0.8928. Hourly RSI is bullish at 51.

Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!