USD/CHF is showing signs of recovery

By FXstreet.com | June 20, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8936, slid to session low at 0.8923, and rebounded to 0.8940 area at the moment.



When everybody supports



The pair managed to post 2-week low at 0.8909 yesterday as the USD was broadly sold, and the Swissy was supported by the unchanged stance of the SNB, while some of the investors expected rate cut. Besides, the euro recovery also added to the weakness of the pair, and may continue to support the slide to new lows. The initial target to the downside may lie at 0.8912 support level, however, a mild rebound is not ruled out with initial target at 0.8969.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8940 with support below at 0.8912, 0.8883, and 0.8855, with resistance above at 0.8969, 0.8997, and 0.9026. Hourly Moving Averages are bearish, with the 200SMA at 0.8982 and the daily 20EMA flat at 0.8957. Hourly RSI is bearish at 40.



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