USD/CHF has no plans to move higher

By FXstreet.com | June 06, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8911, and since that time managed to add less than 10 pips trading at 0.8916 at the moment.



SNB will have to react



After temporary move higher above 0.90, the pair has to resume the slide posting almost 3-week low at 0.8907 yesterday on euro recovery. Now it trades around this area not showing any attempts to move higher even before the Non-Farm Payrolls report. The released recently Swiss CPI and Industrial data came out better than expected. The inflation confirmed the recent trend coming out at 0.2% vs. 0.1% expected, and industrial production increased by 4.3% from -0.6 y/y previously. The pair completely ignored the data trading at 0.8915 at the moment.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8953 with support below at 0.8867, 0.8823, and 0.8737, with resistance above at 0.8997, 0.9083, and 0.9127. Hourly Moving Averages are flat, with the 200SMA at 0.8966 and the daily 20EMA flat at 0.8929. Hourly RSI is bearish at 32.



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