15 Apr 2014
USD/CHF has broken above 0.88, but is it for good?
FXStreet (Moscow) - USD/CHF started the day at 0.8795, and all that time attacked 0.88 resistance reaching 0.8812 session high by the moment.
On the way back and up
It looks like the pair bottomed around 0.8740 area, and resumed the rise higher. Better than expected data from the USA may only support the move, though escalating tensions in Ukraine may hinder the rally. In order to see the confirmed break above 0.88 resistance, we need to get better than expected American inflation data proving the growing price pressure within the economy. The recently released strong Import prices and PPI data support the case, and if so, we may see the move higher to 0.8837 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8788 with support below at 0.8768, 0.8739, and 0.8719, with resistance above at 0.8817, 0.8837, and 0.8866. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8839 and the daily 20EMA bearish at 0.8827. Hourly RSI is bullish at 66.
On the way back and up
It looks like the pair bottomed around 0.8740 area, and resumed the rise higher. Better than expected data from the USA may only support the move, though escalating tensions in Ukraine may hinder the rally. In order to see the confirmed break above 0.88 resistance, we need to get better than expected American inflation data proving the growing price pressure within the economy. The recently released strong Import prices and PPI data support the case, and if so, we may see the move higher to 0.8837 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8788 with support below at 0.8768, 0.8739, and 0.8719, with resistance above at 0.8817, 0.8837, and 0.8866. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8839 and the daily 20EMA bearish at 0.8827. Hourly RSI is bullish at 66.