USD/CHF is sliding on USD weakness; Europe is retroactive

By FXstreet.com | June 19, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8956, paused in Asia, and resumed the slide reaching 0.8935 in Europe.



Rate decision



The pair may get food for thoughts today in the form of the SNB rate decision. Although usually the market prefers to ignore the event, today it may be interesting given the rumors the regulator will have to do something in response to recent ECB easing. However, there are few chances to see it, and if happens, the pair may move higher, back to 0.90 area, if not – welcome to 0.8925 area.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8971 with support below at 0.8942, 0.8925, and 0.8896, with resistance above at 0.8988, 0.9017, and 0.9034. Hourly Moving Averages are bearish, with the 200SMA at 0.8982 and the daily 20EMA flat at 0.8958. Hourly RSI is bearish at 39.



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