USD/CHF retreated from yesterday’s highs

By FXstreet.com | Updated July 29, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.9038, edged higher to 0.9049, but stopped here at the moment, and retreated to 0.9039.



Consumption, consumption



The pair is hovering around February highs, and the uptrend may continue, especially if scheduled for release data from the USA confirms the strong recovery of the US economy. Today the Consumer Confidence report is of interest, as service oriented economy is very sensitive to consumer behavior. As soon as people start to feel confident, they may spend more, and the American economy may get new impulse to grow even faster. The next target to the upside may lie at 0.9051 resistance level.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.9041 with support below at 0.9030, 0.9020 and 0.9009, with resistance above at 0.9051, 0.9062, and 0.9072. Hourly Moving Averages are bullish, with the 200SMA at 0.9009 and the daily 20EMA bullish at 0.8980. Hourly RSI is bullish at 59.



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