21 Jan 2014
Oops, USD/CHF did it again - above 0.91
FXstreet.com (Moscow) - Starting the day just two pips below 0.91 USD/CHF again found the energy to recover, reaching 0.9123 resistance level in the morning, and having potential to go further.
The third time may be the charm for USD/CHF
And again USD/CHF was not able to hold to its gains above 0.91, rebounding to 0.9090 area during Monday’s trades. Nevertheless, today the pair is again trading higher, and is bound for quiet consolidation around the reached highs in the morning on the back of empty calendar. Only the IMF global economic forecasts scheduled for American session may trigger some interesting movements. There is some good potential the Fund will revise the previous US GDP forecasts higher, triggering additional demand on the American currency on higher expectations of QE3 tapering. If so, wait for another move to 0.9153 resistance level after it breaks the first one.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9105 with support below at 0.9074 (S1), 0.9057 (S2) and 0.9026 (S3), with resistance above at 0.9122 (R1), 0.9153, and 0.9170 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9066 and the daily 20EMA bullish at 0.9031. Hourly RSI is neutral at 65.
The third time may be the charm for USD/CHF
And again USD/CHF was not able to hold to its gains above 0.91, rebounding to 0.9090 area during Monday’s trades. Nevertheless, today the pair is again trading higher, and is bound for quiet consolidation around the reached highs in the morning on the back of empty calendar. Only the IMF global economic forecasts scheduled for American session may trigger some interesting movements. There is some good potential the Fund will revise the previous US GDP forecasts higher, triggering additional demand on the American currency on higher expectations of QE3 tapering. If so, wait for another move to 0.9153 resistance level after it breaks the first one.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.9105 with support below at 0.9074 (S1), 0.9057 (S2) and 0.9026 (S3), with resistance above at 0.9122 (R1), 0.9153, and 0.9170 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9066 and the daily 20EMA bullish at 0.9031. Hourly RSI is neutral at 65.