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27 Sep 2013
USD/CHF stalled below 0.9060
FXstreet.com (Chicago) - USD/CHF bounced off 9-month lows and continues extending a short-term bullish channel but remains capped below the 0.9060 strong resistance zone in the afternoon of the American trading session.
Rising concerns
Price action reveals a steep plunge on rising concerns about the US debt-ceiling. As market participants rush to safe-haven currencies, mixed results in the US fail to impress with the Reuters/Michigan consumer sentiment index for September at 77.5 vs. past 82.1 and expected 78.0 and Wall Street dragged to losses prior to closing.
USD/CHF Technical Levels
Technically speaking, the pair is offered at 0.9054 and oscillates between supports aligned at 0.9019 (session lows), 0.8980 (October 30th 2011 highs) followed by 0.8935 (February 12th 2012 lows) and the resistances set at 0.9060 (January 30th lows), 0.9091 (December 30th 2012 lows) ahead of 0.9126 (June 9th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.
Rising concerns
Price action reveals a steep plunge on rising concerns about the US debt-ceiling. As market participants rush to safe-haven currencies, mixed results in the US fail to impress with the Reuters/Michigan consumer sentiment index for September at 77.5 vs. past 82.1 and expected 78.0 and Wall Street dragged to losses prior to closing.
USD/CHF Technical Levels
Technically speaking, the pair is offered at 0.9054 and oscillates between supports aligned at 0.9019 (session lows), 0.8980 (October 30th 2011 highs) followed by 0.8935 (February 12th 2012 lows) and the resistances set at 0.9060 (January 30th lows), 0.9091 (December 30th 2012 lows) ahead of 0.9126 (June 9th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.