USD/CHF is in rising mode

By FXstreet.com | July 16, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8954, and switched to rising mode reaching 0.8968, but stumbled at the moment.



Swiss ZEW may follow the trend



The pair broke above 0.8930 and settles around 0.8960 area on broad buck strength, and the euro weakness. These two factors may continue to push the pair up, as the possibility to see further developments on Portuguese issue is quite high. Swiss ZEW survey outcome may only exacerbate the move, if the index follows the German trend, and comes out below expectations. The next target to the upside may lie at 0.8976 resistance.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8944 with support below at 0.8924, 0.8892, and 0.8872, with resistance above at 0.8976, 0.89996, and 0.9028. Hourly Moving Averages are bullish, with the 200SMA at 0.8931 and the daily 20EMA flat at 0.8930. Hourly RSI is bullish at 67.



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