USD/CHF is testing 0.8740 area

FXStreet (Moscow) - USD/CHF spent the morning testing 0.8740, and though several attempts failed we see the rise to 0.8748 session high at the moment.

The conflicts may still support the Swissy

Despite the attempts to nest above 0.8760 on Tuesday, the pair has still the point of gravitation around 1.8730 area, and the Swissy stays bid on the back of the unstable geopolitical situation. The news on Russia gathering military forces along the border with Ukraine, and the conflicts in Simferopol with two people killed support the risk aversive environment, thus paving the way to support levels around 0.8712 followed by 0.8693. Nevertheless, if the break above 0.8740 succeeds, we may see the move to 0.8760 resistance level again.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.8741 with support below at 0.8712, 0.8693 and 0.8664, with resistance above at 0.8760, 0.8789, and 0.8808. Hourly Moving Averages are mixed, with the 200SMA at 0.8758 and the daily 20EMA bearish at 0.8814. Hourly RSI is neutral at 52.