USD/CHF is depressed by the SNB decision

By FXstreet.com | June 19, 2014 AAA

FXStreet (Moscow) - USD/CHF continues the slide reaching 0.8934 low by the moment.



Rate decision



The pair showed the slide even before the rate decision, but the downward movement continued after the meeting outcome became public with pair posting 0.8934 low by the moment. The thing is that some investors still expected more dovishness from the SNB on the back of the recent ECB decision, and when the monetary authorities left everything unchanged, the Swissy gained popularity. The initial target to the downside may lie at 0.8925 support.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8971 with support below at 0.8942, 0.8925, and 0.8896, with resistance above at 0.8988, 0.9017, and 0.9034. Hourly Moving Averages are bearish, with the 200SMA at 0.8982 and the daily 20EMA flat at 0.8958. Hourly RSI is bearish at 39.



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