USD/CHF retreats from 2-week high around 0.8960

By FXstreet.com | July 07, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8937, reached session high at 0.8958, and reversed the move sliding below 0.8950 at the moment.



Rumors. rumors



The American currency got some stimulus in the morning on the expectations that first rate hike from Fed will come up sooner rather than later. The rumors were triggered by Goldman revising its forecasts, but the excitement soon disappeared, as the pair reached strong resistance, and retreated a bit. Nevertheless, the move higher again is not ruled out given the weak position of the single currency, and the strong impact it has on the swissy. The initial target on the way higher may locate at 0.8965.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8942 with support below at 0.8930, 0.8919, and 0.8907, with resistance above at 0.8953, 0.8965, and 0.8976. Hourly Moving Averages are bullish, with the 200SMA at 0.8913 and the daily 20EMA flat at 0.8930. Hourly RSI is bullish at 67.



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