11 Oct 2013
USD/CHF consolidates 0.9120 winning front
FXstreet.com (Chicago) - USD/CHF sustains gains for a 0.57% wining week back above the 0.91 zone amid a possible conflict resolution between democrats and republicans putting an end to the shutdown.
Shutdown continues
Yesterday, republicans agreed on short-term plan to increase the debt ceiling and gain time before it is too late for a US default. After a couple of hours of silence, president Obama said he would not approve the proposal leaving the country with uncertainty. Although Boehner worked overnight trying to negotiate, the shutdown continues despite rally triggered on hopeful spark that sent the equity markets to 9-month highs. On earlier data in the US, the Reuters/Michigan consumer sentiment index for October was 75.2 vs. expected 76 and past 77.5. Ahead of the Governor Board Member Danthine speech in Switzerland, the pair sustains gains above the 0.9120 zone.
USD/CHF Technical Levels
Technically speaking, the pair is offered at 0.9123 and oscillates between supports aligned at 0.9081 (October 4th highs), 0.9017 (October 9th lows) ahead of 0.8964 (October 4th lows) and the resistances set at 0.9139 (September 25th highs), 0.9176 (August 26th lows) followed by 0.9228 (September 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.
Shutdown continues
Yesterday, republicans agreed on short-term plan to increase the debt ceiling and gain time before it is too late for a US default. After a couple of hours of silence, president Obama said he would not approve the proposal leaving the country with uncertainty. Although Boehner worked overnight trying to negotiate, the shutdown continues despite rally triggered on hopeful spark that sent the equity markets to 9-month highs. On earlier data in the US, the Reuters/Michigan consumer sentiment index for October was 75.2 vs. expected 76 and past 77.5. Ahead of the Governor Board Member Danthine speech in Switzerland, the pair sustains gains above the 0.9120 zone.
USD/CHF Technical Levels
Technically speaking, the pair is offered at 0.9123 and oscillates between supports aligned at 0.9081 (October 4th highs), 0.9017 (October 9th lows) ahead of 0.8964 (October 4th lows) and the resistances set at 0.9139 (September 25th highs), 0.9176 (August 26th lows) followed by 0.9228 (September 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.