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3 Apr 2014
USD/CHF soars and is up 0.57% on the day at 0.8912
FXStreet (Guatemala) - Currently, USD/CHF is trading at 0.8912, up 0.57% on the day, having posted a daily high at 0.8929 and low at 0.8843.
Before the series of US data, USD/CHF had stabilised at the low seen in December and the 28th February low ahead of 0.8800/0.8777. Now, the pair has moved through the March high at 0.8896.
US data wrap effecting AUD/USD
Initial Jobless Claims (Mar 28) arrived disappointingly at 326k vs 317k expected.
Continuing Jobless Claims (Mar 21) came in better than expected at 2.836M vs 2.840M consensus.
Trade Balance (Feb) was up and worse at $-42.30B vs consensus $-38.50B.
Markit Services PMI (Mar) arrived at 55.3 vs previous same while ISM Non-Manufacturing PMI (Mar) arrived lower and worse at 53.1 vs 53.5 consensus.
USD/CHF key technical (neutral)
Elliott wave count on the 240 minute chart suggests strong support at 0.8815. Looking to candlestick patterns, we can see a Doji formation on the 1-hour chart .Looking to a daily chart, we see that RSI is neutral at 53.78. The 200 SMA is currently at 0.8853, up from 0.8848 at the last period close, and climbing on the hourly USD/CHF chart. Moving with a range-bound trend, the exponential average closing price is 0.8834.
USD/CHF Levels
With spot trading at 0.8914, we can see next resistance ahead at 0.8918 (Weekly Classic R1), 0.8929 (Daily High), 0.8945 (Daily Classic R3), 0.8951 (Daily 100 SMA) and 0.8965 (Weekly Classic R2). Support below can be found at 0.8911 (Daily Classic R2), 0.8887 (Daily Classic R1), 0.8877 (Monthly High), 0.8876 (Yesterday's High) and 0.8874 (Hourly 20 EMA).
Before the series of US data, USD/CHF had stabilised at the low seen in December and the 28th February low ahead of 0.8800/0.8777. Now, the pair has moved through the March high at 0.8896.
US data wrap effecting AUD/USD
Initial Jobless Claims (Mar 28) arrived disappointingly at 326k vs 317k expected.
Continuing Jobless Claims (Mar 21) came in better than expected at 2.836M vs 2.840M consensus.
Trade Balance (Feb) was up and worse at $-42.30B vs consensus $-38.50B.
Markit Services PMI (Mar) arrived at 55.3 vs previous same while ISM Non-Manufacturing PMI (Mar) arrived lower and worse at 53.1 vs 53.5 consensus.
USD/CHF key technical (neutral)
Elliott wave count on the 240 minute chart suggests strong support at 0.8815. Looking to candlestick patterns, we can see a Doji formation on the 1-hour chart .Looking to a daily chart, we see that RSI is neutral at 53.78. The 200 SMA is currently at 0.8853, up from 0.8848 at the last period close, and climbing on the hourly USD/CHF chart. Moving with a range-bound trend, the exponential average closing price is 0.8834.
USD/CHF Levels
With spot trading at 0.8914, we can see next resistance ahead at 0.8918 (Weekly Classic R1), 0.8929 (Daily High), 0.8945 (Daily Classic R3), 0.8951 (Daily 100 SMA) and 0.8965 (Weekly Classic R2). Support below can be found at 0.8911 (Daily Classic R2), 0.8887 (Daily Classic R1), 0.8877 (Monthly High), 0.8876 (Yesterday's High) and 0.8874 (Hourly 20 EMA).