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.



Related Forex Analysis
  1. USD/CHF Technical Analysis: Long Trade Hits First Target
    Forex News

    USD/CHF Technical Analysis: Long Trade Hits First Target

  2. USD/CHF Median Line is Key to Uptrend
    Forex News

    USD/CHF Median Line is Key to Uptrend

  3. USD/CHF fails to hold above 0.9600; back to daily lows
    Forex News

    USD/CHF fails to hold above 0.9600; back to daily lows

  4. USD/CHF loses steam above 0.9600
    Forex News

    USD/CHF loses steam above 0.9600

  5. USD/CHF Technical Analysis: Franc Back on the Defensive
    Forex News

    USD/CHF Technical Analysis: Franc Back on the Defensive

Trading Center