USD/CHF has a trip to highlands

By FXstreet.com | Updated July 28, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.9044, edged higher to 0.9050, but turned around and slid to 0.9040 area by the moment.



Will USD be strong?



The pair is still above 0.90, and it even came closer to 0.9050 last Friday on broad-based USD strength. This week will bring more reasons to move further, especially if US reports continue to confirm the strength of US recovery. However, don’t forget about the European data, as euro moves have strong correlation with the Swissy ones, so positive data out of the euro zone may help the pair retreat from current peaks.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.9039 with support below at 0.9025, 0.9002 and 0.8988, with resistance above at 0.9062, 0.9076, and 0.9099. Hourly Moving Averages are largely bullish, with the 200SMA bullish at 0.9001 and the daily 20EMA bullish at 0.8974. Hourly RSI is bullish at 64.



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