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30 May 2014
USD/CHF is very logical in its move lower
FXStreet (Moscow) - USD/CHF opened the day at 0.8977, posted 0.8988 session high, but retreated to 0.8967 by the moment.
Focus on US data
Quite volatile Thursday may be followed by quite volatile Friday, as the week and month end flows may coincide. For now, the pair is unable to break above 0.90 area surrounded by large amounts of sellers’ interest. Thus, the correction lower is quite logical at this stage, and the only thing that may stop the current sell-off may be really strong reports out of the US that are scheduled for release today. PCE numbers and Consumer Sentiment index are of interest given the significance the household consumption has for the American economy. The next target to the downside may become support level at 0.8959.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8973 with support below at 0.8959, 0.8940, and 0.8926, with resistance above at 0.8992, 0.9006, and 0.9025. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8944 and the daily 20EMA bullish at 0.8911. Hourly RSI is bearish at 49.
Focus on US data
Quite volatile Thursday may be followed by quite volatile Friday, as the week and month end flows may coincide. For now, the pair is unable to break above 0.90 area surrounded by large amounts of sellers’ interest. Thus, the correction lower is quite logical at this stage, and the only thing that may stop the current sell-off may be really strong reports out of the US that are scheduled for release today. PCE numbers and Consumer Sentiment index are of interest given the significance the household consumption has for the American economy. The next target to the downside may become support level at 0.8959.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8973 with support below at 0.8959, 0.8940, and 0.8926, with resistance above at 0.8992, 0.9006, and 0.9025. Hourly Moving Averages are largely neutral, with the 200SMA at 0.8944 and the daily 20EMA bullish at 0.8911. Hourly RSI is bearish at 49.