Back
1 Oct 2013
USD/CHF piercing the resistance; markets complacent.
FXstreet.com (London) - USD/CHF is holding well despite the government shutdown.
USD/CHF has bounced sharply despite the drop from 0.9060 to below the handle where it broke the double bottom and has since recovered over 70 pips. The NFP main event on Friday has been cancelled but the ECB tomorrow should offer some volatility if the dollar fails to engage the market on its own. Meanwhile, a complacent market appears to be refusing to acknowledge possible knock on implications to a prolonged US government shutdown.
USD/CHF Levels
The 20 DMA is 0.9226, the 50 DMA is 0.9252 and the 200 DMA is 0.9343. RSI (14) reads 57.83. Supports are ascending from 0.8931, 0.9002, 0.9020, 0.9035 and 0.9040. Spot is currently 0.9068 while resistances are 0.9080, 0.9088 and 0.9121.
USD/CHF has bounced sharply despite the drop from 0.9060 to below the handle where it broke the double bottom and has since recovered over 70 pips. The NFP main event on Friday has been cancelled but the ECB tomorrow should offer some volatility if the dollar fails to engage the market on its own. Meanwhile, a complacent market appears to be refusing to acknowledge possible knock on implications to a prolonged US government shutdown.
USD/CHF Levels
The 20 DMA is 0.9226, the 50 DMA is 0.9252 and the 200 DMA is 0.9343. RSI (14) reads 57.83. Supports are ascending from 0.8931, 0.9002, 0.9020, 0.9035 and 0.9040. Spot is currently 0.9068 while resistances are 0.9080, 0.9088 and 0.9121.