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21 Apr 2014
USD/CHF moving closer to 0.88 on broad USD weakness
FXStreet (Moscow) - USD/CHF opened the day at 0.8829, and since that time stubbornly moved lower reaching 0.8819 session low by the moment.
The spring has come
The morning move lower coincided with a broad weakness of the USD around the market, and it simplifies the Swissy the road to new highs so far with initial target at 0.8811. Nevertheless, the coming week may only strengthen the US Dollar positions, if fundamentals will continue to evidence the further recovery of the US economy after harsh weather effect faded away. During this week we will get housing figures and durable goods orders. Since the spring revived the business and consumer activity, the rebound in data is largely expected. Thus, the initial target in this case may be at 0.8843 resistance level, while the downside is limited by 0.88 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8832 with support below at 0.8827, 0.8816, and 0.8811, with resistance above at 0.8843, 0.8848, and 0.8859. Hourly Moving Averages are bullish, with the 200SMA at 0.8802 and the daily 20EMA neutral at 0.8826. Hourly RSI is bullish at 51.
The spring has come
The morning move lower coincided with a broad weakness of the USD around the market, and it simplifies the Swissy the road to new highs so far with initial target at 0.8811. Nevertheless, the coming week may only strengthen the US Dollar positions, if fundamentals will continue to evidence the further recovery of the US economy after harsh weather effect faded away. During this week we will get housing figures and durable goods orders. Since the spring revived the business and consumer activity, the rebound in data is largely expected. Thus, the initial target in this case may be at 0.8843 resistance level, while the downside is limited by 0.88 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8832 with support below at 0.8827, 0.8816, and 0.8811, with resistance above at 0.8843, 0.8848, and 0.8859. Hourly Moving Averages are bullish, with the 200SMA at 0.8802 and the daily 20EMA neutral at 0.8826. Hourly RSI is bullish at 51.