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1 Oct 2013
USD/CHF hovering precariously just above key correction support at 0.9016
FXstreet.com (Barcelona) - As the DXY has fallen along with Treasury yields in recent days – it has dragged the USD/CHF down along with it.
USD/CHF traders to react to US and Swiss data in addition to US politics
The falling DXY has been a result of the FOMC’s no-tapering decision and the growing concerns surrounding the US budget / Obamacare bickering in Washington. The latter of those two causes is taking center stage right now and us having a negative effect on the DXY and the USD/CHF – especially in the last hour as USD/CHF has tumbled from 0.9063 to 0.9047.
Later Tuesday, traders will trade around the release of Swiss PMI, US PMI, the US ISM Manufacturing Index and US construction spending.
Technical outlook for USD/CHF
Technicians are keying on the correction support level of 0.9016 for the USD/CHF. A hold of that level gives the bulls a chance whereas a breakdown there opens the door to a slide down to 0.8746 – 0.8916. First resistance comes in at 0.9137.
USD/CHF traders to react to US and Swiss data in addition to US politics
The falling DXY has been a result of the FOMC’s no-tapering decision and the growing concerns surrounding the US budget / Obamacare bickering in Washington. The latter of those two causes is taking center stage right now and us having a negative effect on the DXY and the USD/CHF – especially in the last hour as USD/CHF has tumbled from 0.9063 to 0.9047.
Later Tuesday, traders will trade around the release of Swiss PMI, US PMI, the US ISM Manufacturing Index and US construction spending.
Technical outlook for USD/CHF
Technicians are keying on the correction support level of 0.9016 for the USD/CHF. A hold of that level gives the bulls a chance whereas a breakdown there opens the door to a slide down to 0.8746 – 0.8916. First resistance comes in at 0.9137.