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16 Sep 2013
USD/CHF attempts to fill the gap
FXstreet.com (Córdoba) - The USD/CHF has climbed to fresh session highs as the greenback recovers some of the lost ground and attempts to fill the weekly opening gap.
The US dollar weakened while bonds and stocks rallied on Monday after Lawrence Summers resigned from the race to head the Federal Reserve, suggesting a more gradual approach to tightening monetary policy. However, USD/CHF has been slowly cutting losses after bottoming out at a 3-week low of 0.9227 at the beginning of the day.
USD/CHF finds resistance at 21-hour SMA
The recovery has extended to the 0.9270 zone where the 21-hour SMA offered dynamic resistance. At time of writing, USD/CHF is trading at the 0.9265 zone, 0.4% above its opening price, with immediate resistances at 0.9270 (21-hour SMA) and 0.9293 (Friday’s close). On the other hand, supports could be found at 0.9227 (daily low) and 0.9215 (Aug 29 low) ahead of 0.9200 (psychological level).
The US dollar weakened while bonds and stocks rallied on Monday after Lawrence Summers resigned from the race to head the Federal Reserve, suggesting a more gradual approach to tightening monetary policy. However, USD/CHF has been slowly cutting losses after bottoming out at a 3-week low of 0.9227 at the beginning of the day.
USD/CHF finds resistance at 21-hour SMA
The recovery has extended to the 0.9270 zone where the 21-hour SMA offered dynamic resistance. At time of writing, USD/CHF is trading at the 0.9265 zone, 0.4% above its opening price, with immediate resistances at 0.9270 (21-hour SMA) and 0.9293 (Friday’s close). On the other hand, supports could be found at 0.9227 (daily low) and 0.9215 (Aug 29 low) ahead of 0.9200 (psychological level).