USD/CHF is showing signs of recovery

By FXstreet.com | Updated July 30, 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.



You May Also Like

Related Forex Analysis
  1. Forex News

    USD/CHF hits fresh 17-month high after SNB sets negative interest rates

  2. Forex News

    Swiss Franc Sinks as SNB Surprises with Negative Interest Rates

  3. Forex News

    USD/CHF Technical Analysis: Broken Wedge Floor Retested

  4. Forex News

    Forex Top Movers: The US Dollar extends rally as the Fed loops the loop

  5. Forex News

    USD/CHF oscillates as Yellen speaks

Trading Center