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8 Jan 2014
USD/CHF is stubbornly testing 0.91 area
FXstreet.com (Moscow) - USD/CHF is showing good rally right from the beginning of the week, reaching 5-week high at 0.9101 in the morning, and retracing to 0.9078 at the moment.
USD is becoming more popular
After touching 0.9094 resistance level on Tuesday, the pair rebounded to the nearest support scared of such an extraordinary move. Nevertheless, today we saw another attack on the psychological barrier, but again the break through failed. We expect the 0.9090/0.91 to be broken by the end of this trading day. USD is getting more and more popular due to positive expectations on FOMC minutes. Bernanke promised that we see some reduction of stimulus at every FED meeting, and Plosser claimed recently the need to speed up the tapering to avoid damaging the economy revival. All of this raises the chances of the pair to break above 0.91 and move to 0.9142 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9076 with support below at 0.9052 (S1), 0.9010 (S2) and 0.8986 (S3), with resistance above at 0.9118 (R1), 0.9142 (R2), and 0.9184 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8970 and the daily 20EMA bullish at 0.8980. Hourly RSI is neutral at 58.
USD is becoming more popular
After touching 0.9094 resistance level on Tuesday, the pair rebounded to the nearest support scared of such an extraordinary move. Nevertheless, today we saw another attack on the psychological barrier, but again the break through failed. We expect the 0.9090/0.91 to be broken by the end of this trading day. USD is getting more and more popular due to positive expectations on FOMC minutes. Bernanke promised that we see some reduction of stimulus at every FED meeting, and Plosser claimed recently the need to speed up the tapering to avoid damaging the economy revival. All of this raises the chances of the pair to break above 0.91 and move to 0.9142 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9076 with support below at 0.9052 (S1), 0.9010 (S2) and 0.8986 (S3), with resistance above at 0.9118 (R1), 0.9142 (R2), and 0.9184 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8970 and the daily 20EMA bullish at 0.8980. Hourly RSI is neutral at 58.