10 Feb 2014
USD/CHF is reaching 0.8970 area
FXStreet (Moscow) - USD/CHF was a bit stronger at the Asian open, but showed quick rebound in Europe reaching 0.8970 at the moment.
USD/CHF may descend targeting 0.89
The pair is moving lower, helped by the released today unemployment data from Switzerland, as better than expected numbers only support the idea of possible tightening from the Swiss National Bank in the nearest quarters. January Swiss unemployment rate came out 3.5% unadjusted in vs +3.6% expected. The US Dollar is still losing the positions against the Swissy, and it looks like the downtrend will continue, at least for short-term. The nearing Janet Yellen’s testimony may become another argument to sell USD, given the dovish stance of the new chairman, and the series of weaker than expected Non-Farm Payrolls. The downside is limited by the support level at 0.8947.To the upside the initial target is at 0.9011.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8985 with support below at 0.8947, 0.8921, and 0.8883, with resistance above at 0.9011, 0.9049, and 0.9075. Hourly Moving Averages are largely bearish, with the 200SMA at 0.9018 and the daily 20EMA flat at 0.9017. Hourly RSI is neutral at 40.
USD/CHF may descend targeting 0.89
The pair is moving lower, helped by the released today unemployment data from Switzerland, as better than expected numbers only support the idea of possible tightening from the Swiss National Bank in the nearest quarters. January Swiss unemployment rate came out 3.5% unadjusted in vs +3.6% expected. The US Dollar is still losing the positions against the Swissy, and it looks like the downtrend will continue, at least for short-term. The nearing Janet Yellen’s testimony may become another argument to sell USD, given the dovish stance of the new chairman, and the series of weaker than expected Non-Farm Payrolls. The downside is limited by the support level at 0.8947.To the upside the initial target is at 0.9011.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8985 with support below at 0.8947, 0.8921, and 0.8883, with resistance above at 0.9011, 0.9049, and 0.9075. Hourly Moving Averages are largely bearish, with the 200SMA at 0.9018 and the daily 20EMA flat at 0.9017. Hourly RSI is neutral at 40.