USD/CHF paused to think of further direction

By FXstreet.com | July 08, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8934, reached session high at 0.8945, paused to think of further direction, and slid to 0.8930 area again.



Weak Swiss Numbers



The pair is on the move higher partly supported by the recent data from Switzerland. Weaker than expected CPI numbers only confirmed the view that the Swiss National Bank will be in no rush to tighten policy. The monthly index was -0.1% vs +0.1% expected, and the yearly stayed unchanged vs the forecast of 0.2% rise. Retail Sales were also much lower than the market anticipated: -0.6% vs. +1.8%. Thus, the move higher is not ruled out with initial target at 0.8957 resistance.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8940 with support below at 0.8920, 0.8903, and 0.8883, with resistance above at 0.8957, 0.8977, and 0.8994. Hourly Moving Averages are mixed, with the 200SMA at 0.8913 and the daily 20EMA flat at 0.8931. Hourly RSI is bearish at 47.



comments powered by Disqus
Related Forex Analysis
  1. USD/CHF consolidating below 0.9550
    Forex News

    USD/CHF consolidating below 0.9550

  2. SNB in no hurry to hike - Goldman Sachs
    Forex News

    SNB in no hurry to hike - Goldman Sachs

  3. USD/CHF Technical Analysis: Pullback Sought to Get Long
    Forex News

    USD/CHF Technical Analysis: Pullback Sought to Get Long

  4. USD/CHF .9580 is a Reaction Level within Range
    Forex News

    USD/CHF .9580 is a Reaction Level within Range

  5. USD/CHF eases from weekly highs
    Forex News

    USD/CHF eases from weekly highs

Trading Center