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11 Feb 2014
USD/CHF is digging 0.8950/40 area
FXStreet (Moscow) - USD/CHF made several attempts in the morning to go below 0.8940, though failed to break it and retraced to 0.8950 at the moment.
USD/CHF still may shoot higher
The pair is showing a consistent move down nearing the January, 24 low at 0.8903. The US Dollar is under pressure, and up till the moment the FED chairman testimony starts, we may see further downward move of the pair. The only surprise may come from Yellen. For now everybody believes she will say something dovish, and will be more pessimistic about economic outlook. There is some slight possibility Janet will even abandon the unemployment target at 6.5 per cent. But if nothing of that happens, the pair shoot higher targeting 0.8991 resistance level followed by 0.9015.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8975 with support below at 0.8951, 0.8935, and 0.8883911, with resistance above at 0.8991, 0.9015, and 0.9031. Hourly Moving Averages are largely bearish, with the 200SMA at 0.9015 and the daily 20EMA bearish at 0.9012. Hourly RSI is neutral at 33.
USD/CHF still may shoot higher
The pair is showing a consistent move down nearing the January, 24 low at 0.8903. The US Dollar is under pressure, and up till the moment the FED chairman testimony starts, we may see further downward move of the pair. The only surprise may come from Yellen. For now everybody believes she will say something dovish, and will be more pessimistic about economic outlook. There is some slight possibility Janet will even abandon the unemployment target at 6.5 per cent. But if nothing of that happens, the pair shoot higher targeting 0.8991 resistance level followed by 0.9015.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8975 with support below at 0.8951, 0.8935, and 0.8883911, with resistance above at 0.8991, 0.9015, and 0.9031. Hourly Moving Averages are largely bearish, with the 200SMA at 0.9015 and the daily 20EMA bearish at 0.9012. Hourly RSI is neutral at 33.