USD/CHF reached 0.8970 following the euro

By FXstreet.com | June 10, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8969, and after failed attempts to break below 0.8960 returned above 0.8970 reaching 0.8990 at the moment.



Euro rules Swissy



The mixture of strengthening USD and weakening euro was the right one to send the pair back to 0.8970 resistance level yesterday. Today the returned from holidays European traders may help to resume the rise higher, helped by the weaker than expected data out of Switzerland. The recently released unemployment report showed worse than forecasted 3.2% rate vs. 3.0%. Swiss real retails sales disappointed as well – 0.3% vs. 0.4% expected. Nevertheless, the pair remains focused on economic developments in euro zone, and it may follow the euro moves during the day, as it does now.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8957 with support below at 0.8932, 0.8894, and 0.8869, with resistance above at 0.8995, 0.9020, and 0.9058. Hourly Moving Averages are bullish, with the 200SMA at 0.8963 and the daily 20EMA flat at 0.8933. Hourly RSI is bullish at 67.



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