USD/CHF may rebound from strong support

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8905, and edged 10 pips higher, still trading somewhere around.



Fighting with 0.89



The pair had a chance to slide down to 0.89 area on the FOMC release, confirming the downward trend seen during the whole week. Nevertheless, the break below strong support level on practically empty calendar may be not an easy task, thus, the rebound from the mentioned area is not ruled out, especially, if the single currency starts to weaken again. The initial target to the upside in this case may be at 0.8931 resistance.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8918 with support below at 0.8897, 0.8884, and 0.8863, with resistance above at 0.8931, 0.8952, and 0.8965. Hourly Moving Averages are bearish, with the 200SMA at 0.8912 and the daily 20EMA bullish at 0.8929. Hourly RSI is bearish at 36.



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