USD/CHF is struggling to break 0.89

By FXstreet.com | July 03, 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.



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