USD/CHF is still thinking of breaking below 0.8970

By FXstreet.com | July 21, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8981, slid to 0.8970, but rebounded to open levels at the moment.



Consolidation on Monday



Risk aversion failed to help the Swissy, as the EUR/USD is still trading close to 1.5-month lows, and even tried to break below 1.35 area. Although this week promises to be rather interesting from fundamental point of view, Monday is not so overwhelmed with releases. It may leave the pair in tight ranges with 0.9003 protecting the upside, and 0.8950 limiting the downside.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8986 with support below at 0.8967, 0.8950, and 0.8931, with resistance above at 0.9003, 0.9022, and 0.9039. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8945 and the daily 20EMA bullish at 0.8943. Hourly RSI is bullish at 44.



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