25 Sep 2013
USD/CHF drifting higher ahead of data after four days of basing; next resistance 0.9158
FXstreet.com (Barcelona) - In this match of “safety currencies”, the greenback is winning out short-term. If the DXY halts at 80.71 resistance as some technicians are positing, the USD/CHF could also see a bearish turn occur.
USD/CHF traders to focus Wednesday on Swiss and US data and Washington misery
Ongoing debate and posturing in Washington regarding Obamacare and the US budget will be on the minds of traders and analysts Wednesday. In addition, however, USD/CHF traders will be watching and reacting to the Swiss Consumption Indicator at 06:00 GMT and US Durable goods and new home sales data early in the US session.
Technical outlook for USD/CHF
Technicians say USD/CHF is most likely going to make its way down to the 0.9016 (once it peaks at 0.9158) before this macro down move is over. The short-term support comes in at Friday’s low of 0.9084. Short-term resistance comes in at 0.9158 and is backed up by 0.9181.
USD/CHF traders to focus Wednesday on Swiss and US data and Washington misery
Ongoing debate and posturing in Washington regarding Obamacare and the US budget will be on the minds of traders and analysts Wednesday. In addition, however, USD/CHF traders will be watching and reacting to the Swiss Consumption Indicator at 06:00 GMT and US Durable goods and new home sales data early in the US session.
Technical outlook for USD/CHF
Technicians say USD/CHF is most likely going to make its way down to the 0.9016 (once it peaks at 0.9158) before this macro down move is over. The short-term support comes in at Friday’s low of 0.9084. Short-term resistance comes in at 0.9158 and is backed up by 0.9181.