USD/CHF is struggling to break 0.89

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - USD/CHF opened the day at 0.8886, reached session high at 0.8897, but sliding back at the moment.



The ECB is a wild card



The pair may have new reasons to come back above 0.89 area, if US labor market behaved well last month. The leading indicators for Non-Farm Payrolls are mixed with Manufacturing ISM employment component staying unchanged, and ADP data significantly beating the forecasts. Nevertheless, even if the readings come out in line with expectations, we will have the ECB as a wild card – more dovish comments on monetary policy, and pessimistic views on economy may put the swissy under pressure.



What are today’s key USD/CHF levels?



Today's central pivot point can be found at 0.8886 with support below at 0.8872, 0.8856, and 0.8842, with resistance above at 0.8902, 0.8916, and 0.8932. Hourly Moving Averages are bullish, with the 200SMA at 0.8917 and the daily 20EMA bearish at 0.8929. Hourly RSI is bullish at 60.



You May Also Like

Related Forex Analysis
  1. Forex News

    USD/CHF retreats to 0.9755 and rises back above 0.9800

  2. Forex News

    Dollar Rally Post-FOMC Bolstered by Surprise SNB Action

  3. Forex News

    SNB unexpectedly sets negative interest rates, ready to do more

  4. Forex News

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

  5. Forex News

    Swiss Franc Sinks as SNB Surprises with Negative Interest Rates

Trading Center