OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/CHF targets at 0.95 helped by the CHF weakness

FXStreet (Moscow) - USD/CHF opened at 0.9454, and kept moving higher reaching 0.9488 by the moment of writing.

Durables may stop rally

The pair got inspired by the euro weakness triggered by recent Draghi comments on unconventional measures. The nearest resistance at 0.9480 is already gone, and now the pair is targeting at 0.9505. The looming August headline Durable Goods Orders report may attract some attention tonight, as previous numbers hit record 22.6% m/m post Farnborough Air Show. It’s worth noticing the spike may have temporary nature, and an impressive plunge lower is not ruled out in August. If so, it may put the pair under pressure, and send it back to the nearest support level at 0.9434 initially.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9434 with support below at 0.9409, 0.9363 and 0.9338, with resistance above at 0.9480, 0.9505, and 0.9551. Hourly Moving Averages are bullish, with the 200SMA bullish at 0.9378 and the daily 20EMA bullish at 0.9299. Hourly RSI is bullish at 83.

Sweden Producer Price Index (MoM) rose from previous 0% to 1% in August

Read more Previous

ECB's Draghi: Governing Council ready to use additional QE instruments

Speaking at the Euro Conference in Vilnius, Lithuania ECB president Mario Draghi suggests that we should see modest growth in the Eurozone in Q2 2014.
Read more Next
Start livechat