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29 Jan 2014
USD/CHF is boosted by risk-on sentiments
FXstreet.com (Moscow) - USD/CHF got some inspiration from the Turkish central bank decision, strengthening to 0.90 session high and trading not far away at the moment.
Binary nature of USD/CHF strength
USD/CHF finally showed more confidence in rising to new highs. It reached 0.90 on Tuesday, and came back there on Wednesday morning, trading around 0.8990 area at the moment. The supportive flows into USD have binary nature: the move on risk-on sentiment, and the expectations of further stimulus reduction from the FED. The latter factor gets more strength with the nearing FOMC meeting, making us believe the pair will settle above 0.90 level targeting at 0.9038 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8980 with support below at 0.8949 (S1), 0.8922 (S2) and 0.8891 (S3), with resistance above at 0.9007 (R1), 0.9038, and 0.9065 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9044 and the daily 20EMA bearish at 0.8989. Hourly RSI is neutral at 60.
Binary nature of USD/CHF strength
USD/CHF finally showed more confidence in rising to new highs. It reached 0.90 on Tuesday, and came back there on Wednesday morning, trading around 0.8990 area at the moment. The supportive flows into USD have binary nature: the move on risk-on sentiment, and the expectations of further stimulus reduction from the FED. The latter factor gets more strength with the nearing FOMC meeting, making us believe the pair will settle above 0.90 level targeting at 0.9038 resistance level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8980 with support below at 0.8949 (S1), 0.8922 (S2) and 0.8891 (S3), with resistance above at 0.9007 (R1), 0.9038, and 0.9065 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.9044 and the daily 20EMA bearish at 0.8989. Hourly RSI is neutral at 60.