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20 Sep 2013
USD/CHF running in place above Thursday’s low; ultimate dowside may be 0.9016
FXstreet.com (Barcelona) - In this match of “safety currencies”, it appears to be the Swiss Franc that has all the relative strength as evidenced by the tumbling USD/CHF.
USD/CHF traders to focus Friday on DXY’s reaction to Washington politics
USD/CHF traders will be monitoring the ongoing debate and posturing regarding Obamacare and the US budget Friday. In addition, three FOMC voices (Esther George, James Bullard and Narayana Kocherlakota) will be heard from the pulpit – none of whom are Ben Bernanke or Janet Yellen so the reaction (especially after Wednesday’s decisive announcements by the FOMC) will likely be muted.
Technical outlook for USD/CHF
Technicians say USD/CHF is most likely going to make its way down to the 0.9016 (from 0.9106) before this macro down move is over. The short-term support comes in at Thursday’s low of 0.9089. Short-term resistance comes in at 0.9170 and is backed up by 0.9233.
USD/CHF traders to focus Friday on DXY’s reaction to Washington politics
USD/CHF traders will be monitoring the ongoing debate and posturing regarding Obamacare and the US budget Friday. In addition, three FOMC voices (Esther George, James Bullard and Narayana Kocherlakota) will be heard from the pulpit – none of whom are Ben Bernanke or Janet Yellen so the reaction (especially after Wednesday’s decisive announcements by the FOMC) will likely be muted.
Technical outlook for USD/CHF
Technicians say USD/CHF is most likely going to make its way down to the 0.9016 (from 0.9106) before this macro down move is over. The short-term support comes in at Thursday’s low of 0.9089. Short-term resistance comes in at 0.9170 and is backed up by 0.9233.