Swissy has too tight ties with the euro

By FXstreet.com | July 11, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8920, edged 12 pips higher, but slid to 0.8912 at the moment on the euro strength.



Not as it used to be



The Swissy is not attracting the seeking for safety investors as much as it used to be. The problem lies in tight ties with euro zone and euro moves, so every time the single currency comes under the pressure, the CHF follows the move, and vice versa. Thus, no wonder the pair was able to slid to 0.8910 area, and may come closer to the nearest support at 0.8903, while euro added 20 pips during the last half an hour.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8919 with support below at 0.8903, 0.8884, and 0.8868, with resistance above at 0.8938, 0.8954, and 0.8973. Hourly Moving Averages are neutral, with the 200SMA at 0.8915 and the daily 20EMA bullish at 0.8928. Hourly RSI is bearish at 50.



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