USD/CHF doesn’t rule out another run up

By FXstreet.com | Updated August 04, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.9058, and edged higher reaching 0.9067, but retreated below 0.9060 by the moment.



We need pessimistic Draghi



The pair was killed by weaker than expected data from the USA, although the employment level was not significantly lower than expected. The major disappointment was from average hourly earnings showing absence of inflation on wage level. The market took it as the confirmation of still low price pressure meaning the Fed doesn’t need to hurry with tightening in current circumstances. However, nothing is lost for the pair this week, especially if Draghi says something too pessimistic. For today we don’t have much to move on that may live the pair within the tight range.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.9066 with support below at 0.9033, 0.9008 and 0.8975, with resistance above at 0.9091, 0.9124, and 0.9149. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.9053 and the daily 20EMA bullish at 0.9012. Hourly RSI is bearish at 43.



You May Also Like

Related Forex Analysis
  1. Forex News

    USD/CHF consolidates around 0.9800

  2. Forex News

    USD/CHF steadies around 0.98

  3. Forex News

    USD/CHF moves away from 2-yr High

  4. Forex News

    USD/CHF Technical Analysis: Probing Above 0.98 Figure

  5. Forex News

    USD/CHF Threatens Long-Term Bearish Trend on Negative SNB Rate

Trading Center