USD/CHF up, down, shaken all around

FXStreet (Guatemala) - USD/CHF had been as high a 0.8893 from 0.8863 on a rally which eventually met supply and a fierce sell off back down to 0.8860.

The USD has been at the centre of movements post which should have been dollar negative. The data for February read 78.1 vs 80.0 expected and 79.4 previous. Despite that, the dollar strengthened some moments after the release and the move came unexplained. Fed's Tarullo was speaking and suggested there are some areas in the economy that look to be in a bubble. This may have been partly to blame. It was said that high-yield corporate bonds and leveraged loans are risky areas. Farmland, small tech firm valuations seem stretched. Some evidence of greater duration and credit risk. Gold is higher as well and of course there are the Ukraine tensions also warranting markets into risk aversion modes. However, that said we are back to the start again and the dollar is behaving erratically across the board, not just vs CHF.

USD/CHF Levels

The 20 DMA is 0.8962, the 50 DMA is 0.8984 and the 200 DMA is 0.9179. RSI (14) reads 66.43. Supports are ascending from 0.8800, 0.8830, 0.8850. Spot is 0.8865 while resistances are 0.8915, 0.8932, 0.8949 and 0.8974.