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18 Oct 2013
USD/CHF remains at 2-week depths; regains 0.9020 front
FXstreet.com (Chicago) - USD/CHF attempts consolidation above the 0.9020 zone after being close to lose the 0.90 front earlier today.
Talk of the moment
The argument about the validity of the data to be released in the US takes strength as illustrated by FXstreet.com analyst, Valeria Bernarik comments “no matter what, I’m not willing to believe much in US September employment figures, and I believe neither the market, so a number above expected may actually give some room for dollar strength, but the movement will likely be a correction, and won’t take long for the currency to reverse such gains. On the other hand, a negative reading will only boost dollar selloff against it major rivals, and for a change with the news being release on a Tuesday instead of the usual Friday, the effect won’t be diluted by weekend, but endure for the rest of the week.”
USD/CHF Technical Levels
Technically speaking, the pair oscillates between supports aligned at 0.90 (October 17th lows), 0.8966 (October 3rd lows) followed by 0.8929 (mid- February 2012 lows) and the resistances set at 0.9062 (October 14th lows), 0.9116 (September 26th highs) ahead of 0.9152 (August 12th lows) to trade at 0.9022. Extending the bearish momentum on dollar’s weakening due to the amount of economic losses that the US shutdown represents, the pair remains around 2-week low altitudes.
Talk of the moment
The argument about the validity of the data to be released in the US takes strength as illustrated by FXstreet.com analyst, Valeria Bernarik comments “no matter what, I’m not willing to believe much in US September employment figures, and I believe neither the market, so a number above expected may actually give some room for dollar strength, but the movement will likely be a correction, and won’t take long for the currency to reverse such gains. On the other hand, a negative reading will only boost dollar selloff against it major rivals, and for a change with the news being release on a Tuesday instead of the usual Friday, the effect won’t be diluted by weekend, but endure for the rest of the week.”
USD/CHF Technical Levels
Technically speaking, the pair oscillates between supports aligned at 0.90 (October 17th lows), 0.8966 (October 3rd lows) followed by 0.8929 (mid- February 2012 lows) and the resistances set at 0.9062 (October 14th lows), 0.9116 (September 26th highs) ahead of 0.9152 (August 12th lows) to trade at 0.9022. Extending the bearish momentum on dollar’s weakening due to the amount of economic losses that the US shutdown represents, the pair remains around 2-week low altitudes.