USD/CHF is depressed by the SNB decision

By FXstreet.com | Updated July 30, 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.



You May Also Like

Related Forex Analysis
  1. Will EURCHF Floor Break? November 30 Referendum in Focus
    Forex News

    Will EURCHF Floor Break? November 30 Referendum in Focus

  2. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

  3. USD/CHF rallies to weekly highs after Draghi
    Forex News

    USD/CHF rallies to weekly highs after Draghi

  4. USD/CHF Technical Analysis: Franc Short Remains Active
    Forex News

    USD/CHF Technical Analysis: Franc Short Remains Active

  5. USD/CHF Nears Important Support Line
    Forex News

    USD/CHF Nears Important Support Line

Trading Center