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USD/CHF got below 0.94 on broad demand for Europeans

FXStreet (Moscow) - USD/CHF joined the broad based recovery of the Europeans against USD, starting the day at 0.9410, and retreating to current 0.9385 area.

New lows not ruled out

The pair has overcome the 0.94 hurdle last Friday, and was targeting 0.9430 area seen last Thursday, but Monday changed everything. The Swissy got support from the recent euro strengthening, and it took the pair back below 0.94. Besides, we need to remember the Swissy got support from recent unchanged rate decision by the SNB. Although the market still prefers USD, and new evidence of stronger US growth may help the pair resume the rise, the further slide down at the current stage is not ruled out.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9385 with support below at 0.9357, 0.9306 and 0.9278, with resistance above at 0.9436, 0.9464, and 0.9515. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.9358 and the daily 20EMA bullish at 0.9288. Hourly RSI is bearish at 48.

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