USD/CHF is in agitation and anticipation

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8991, moved to 0.8986, but came back above 0.8990 at the moment.



Chance to verify



Despite the initial weakness, the pair resumed the rise yesterday coming back to 0.90 area again, as better than expected CPI data out of the USA fueled the hopes for more aggressive stance of the Fed. Today we may have a chance to verify it, as FOMC meeting is looming, and if economic forecasts are revised higher, the breakout of 0.90 is not ruled out. The initial target in this case may be at 0.9012.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8988 with support below at 0.8970, 0.8946, and 0.8928, with resistance above at 0.9012, 0.9030, and 0.9054. Hourly Moving Averages are bullish, with the 200SMA at 0.8976 and the daily 20EMA bullish at 0.8958. Hourly RSI is bullish at 55.



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