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3 Mar 2014
USD/CHF stays around 0.88, but vulnerable for losses
FXStreet (Moscow) - USD/CHF started the day at 0.8804 and slid to 0.8781 low in early Asia, rebounding to 0.8796 at the moment.
The Swissy is in demand
The week Swissy opened on positive note helped by risk aversion triggered by Ukraine/Russia issue, though the currency rose just slightly. The pair came closer to multi-year lows not seeing from November, 2011, paving the way for additional losses. The geopolitical tensions will go on pressuring the pair down, especially given the escalation of Russian-Ukrainian conflict. And the scheduled for today Manufacturing PMI data from Switzerland may only support the Swissy strength. If so, the initial target is at 0.8751 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8821 with support below at 0.8751, 0.8707, and 0.8673, with resistance above at 0.8865, 0.8935, and 0.8979. Hourly Moving Averages are bearish, with the 200SMA at 0.8879 and the daily 20EMA bearish at 0.8919. Hourly RSI is neutral at 28.
The Swissy is in demand
The week Swissy opened on positive note helped by risk aversion triggered by Ukraine/Russia issue, though the currency rose just slightly. The pair came closer to multi-year lows not seeing from November, 2011, paving the way for additional losses. The geopolitical tensions will go on pressuring the pair down, especially given the escalation of Russian-Ukrainian conflict. And the scheduled for today Manufacturing PMI data from Switzerland may only support the Swissy strength. If so, the initial target is at 0.8751 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8821 with support below at 0.8751, 0.8707, and 0.8673, with resistance above at 0.8865, 0.8935, and 0.8979. Hourly Moving Averages are bearish, with the 200SMA at 0.8879 and the daily 20EMA bearish at 0.8919. Hourly RSI is neutral at 28.