22 Oct 2013
USD/CHF hits fresh highs but lacks momentum
FXstreet.com (Córdoba) - The USD/CHF edged slightly higher Tuesday and printed fresh highs during the European session as investors cautiously await delayed US jobs data.
The USD/CHF rose to the 0.9040 area but failed once again to decisively break above that level and extend its recovery. At time of writing, USD/CHF is trading at the 0.9030 zone, still 0.1% above it opening price. Next on tap at 1230 GMT, the nonfarm payrolls report could renew the debate over whether the Fed should begin tapering its monetary stimulus this year.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find immediate resistances at 0.9045 (Oct 21 high) and 0.9065 (21-day SMA) ahead of 0.9080 (10-day SMA). On the other hand, supports are seen at 0.9000/03 (psychological level/Oct 18 low) and 0.8967 (2013 low Oct 3).
The USD/CHF rose to the 0.9040 area but failed once again to decisively break above that level and extend its recovery. At time of writing, USD/CHF is trading at the 0.9030 zone, still 0.1% above it opening price. Next on tap at 1230 GMT, the nonfarm payrolls report could renew the debate over whether the Fed should begin tapering its monetary stimulus this year.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find immediate resistances at 0.9045 (Oct 21 high) and 0.9065 (21-day SMA) ahead of 0.9080 (10-day SMA). On the other hand, supports are seen at 0.9000/03 (psychological level/Oct 18 low) and 0.8967 (2013 low Oct 3).