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USD/CHF keeps rising with SNB meeting in mind

FXStreet (Moscow) - USD/CHF opened the day at 0.9325, and moved up step by step, posting 0.9346 in Europe.

SNB in focus

The pair shows some attempts to recover after broad USD sell-off seen yesterday. Although the market is starting to doubt the FOMC may help the American currency to recover, the pair still has chances to continue the rise, as there is Swiss National Bank meeting looming. The market doesn’t rule out the possible actions on the regulator’s side, as recent measures from the ECB coupled with deflationary pressure evolving in the Swiss economy may have convinced the Swiss monetary authorities to step in with rate cut. It means, the reaction to FOMC meeting may be short-lived, as the market will focus on Thursday’s SNB meeting.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9330 with support below at 0.9296, 0.929365 and 0.9231, with resistance above at 0.9361, 0.9395, and 0.9426. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.9343 and the daily 20EMA bullish at 0.9254. Hourly RSI is bullish at 50.

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