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USD/CHF goes up with tiny steps

FXStreet (Moscow) - USD/CHF posted Asian low at 0.9519, and reversed the move climbing to current 0.9532.

The pair keeps moving higher gradually, as it found the bottom at 0.9468 on October,9. Although the American currency has lost some of its recent popularity, the market still believes the US economy is on the stable path of recovery, and the Fed will have to tighten the monetary policy some day in 2015. Meanwhile, the Swiss National Bank hold the monetary course unchanged, and given the ECB ultra dovish stance, won’t have opportunity to raise rates for quite some time. This notion will keep pressuring the Swissy, and may help the pair to rise further with next target at 0.9600.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9564 with support below at 0.9534, followed by 0.9498 and 0.9468, with resistance above at 0.9600, followed by 0.9630, and 0.9666. Hourly Moving Averages are bearish, with the 200SMA at 0.9572, and the daily 20EMA bullish at 0.9486. Hourly RSI is bearish at 46.

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