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22 Apr 2014
USD/CHF retraced from 2-week highs
FXStreet (Moscow) - USD/CHF opened the day at 0.8848, reached 0.8853 session high, and retraced to0.8840 area by the moment.
The housing is in focus
The pair reached 2-week high at 0.8853 today, and although it met some selling interest which sent the pair to 0.8837 session low, the USD still may resume the rise again. Today the data calendar is light again although all the financial markets returned from the Easter holidays. Thus, the focus will be on the USA, where we will get existing home sales. The housing market is very important for the American economy, thus the evidence of further recovery will be another argument for the stronger demand on the USD. Thus, the initial target in this case may be at 0.8876 resistance level, while the downside is limited by 0.8829 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8841 with support below at 0.8829, 0.8806, and 0.8794, with resistance above at 0.8864, 0.8876, and 0.8899. Hourly Moving Averages are bullish, with the 200SMA at 0.8803 and the daily 20EMA neutral at 0.8828. Hourly RSI is bullish at 59.
The housing is in focus
The pair reached 2-week high at 0.8853 today, and although it met some selling interest which sent the pair to 0.8837 session low, the USD still may resume the rise again. Today the data calendar is light again although all the financial markets returned from the Easter holidays. Thus, the focus will be on the USA, where we will get existing home sales. The housing market is very important for the American economy, thus the evidence of further recovery will be another argument for the stronger demand on the USD. Thus, the initial target in this case may be at 0.8876 resistance level, while the downside is limited by 0.8829 support level.
What are today’s key USD/CHF levels?
Today's central pivot point can be found at 0.8841 with support below at 0.8829, 0.8806, and 0.8794, with resistance above at 0.8864, 0.8876, and 0.8899. Hourly Moving Averages are bullish, with the 200SMA at 0.8803 and the daily 20EMA neutral at 0.8828. Hourly RSI is bullish at 59.