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30 Sep 2013
USD/CHF trades around 9-month lows around 0.9040
FXstreet.com (Chicago) - USD/CHF retraced from 0.9070 highs throughout the American trading session to close the journey around 9-month lows on US debt-ceiling and deficit issue after the Senate and the House were unable to pass Obamacare.
Red Monday
Wall Street closed in red with the Dow down 0.84%, the Nasdaq down 0.27% and the S&P500 down 0.60%. It seems government shutdown is inevitable tonight as strong positions between Republicans and Democrats blocked any possibility of negotiation. With the deadline set for midnight, hope drifts away for Americans.
USD/CHF Technical Levels
Price action reveals primary and secondary trends pointing down matched by the shorter-term timeframe price movement. Extending the downward trendline that started last week, the pair oscillates around 9-month lows. Offered at 0.9042, the pair oscillates between supports aligned at 0.9020 (September 28th lows), 0.8933 (February 20th 2012 lows) ahead of 0.8883 (June 2011) and resistances set at 0.9068 (September 27th highs), 0.9092 (September 18th lows) followed by 0.9130 (September 23rd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe below the EMA20.
Red Monday
Wall Street closed in red with the Dow down 0.84%, the Nasdaq down 0.27% and the S&P500 down 0.60%. It seems government shutdown is inevitable tonight as strong positions between Republicans and Democrats blocked any possibility of negotiation. With the deadline set for midnight, hope drifts away for Americans.
USD/CHF Technical Levels
Price action reveals primary and secondary trends pointing down matched by the shorter-term timeframe price movement. Extending the downward trendline that started last week, the pair oscillates around 9-month lows. Offered at 0.9042, the pair oscillates between supports aligned at 0.9020 (September 28th lows), 0.8933 (February 20th 2012 lows) ahead of 0.8883 (June 2011) and resistances set at 0.9068 (September 27th highs), 0.9092 (September 18th lows) followed by 0.9130 (September 23rd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe below the EMA20.