25 Sep 2013
USD/CHF glued to 0.9091 support; below EMA20
FXstreet.com (Chicago) - USD/CHF prints the largest amount of losses among major currency pairs with a 0.39% decline for a rather negative monthly performance down 1.35%.
Debt crisis?
On mixed US results with improved home sales data but a debt crisis that escalates, market participants digest a declining UBS consumption indicator in Switzerland at 1.32 vs. prior 1.41 and the budget bill making little progress in Washington.
USD/CHF Technical Levels
Price action reveals downward primary and secondary trends matched by a short-term one that seems to stall on bullish pressure. The pair bounced back above previously violated support but continues printing lower highs and lower lows in the afternoon of the American trading session. Offered at 0.9092, the pair is glued to immediate support aligned at 0.9091 (September 18th lows) facing 0.9058 (February 1st lows) and 0.9019 (January 24th lows). On the upside, resistances are set at 0.9126 (September 18th highs), 0.9168 (August 27th lows) followed by 0.9217 (September 13th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.
Debt crisis?
On mixed US results with improved home sales data but a debt crisis that escalates, market participants digest a declining UBS consumption indicator in Switzerland at 1.32 vs. prior 1.41 and the budget bill making little progress in Washington.
USD/CHF Technical Levels
Price action reveals downward primary and secondary trends matched by a short-term one that seems to stall on bullish pressure. The pair bounced back above previously violated support but continues printing lower highs and lower lows in the afternoon of the American trading session. Offered at 0.9092, the pair is glued to immediate support aligned at 0.9091 (September 18th lows) facing 0.9058 (February 1st lows) and 0.9019 (January 24th lows). On the upside, resistances are set at 0.9126 (September 18th highs), 0.9168 (August 27th lows) followed by 0.9217 (September 13th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.