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7 Oct 2013
USD/CHF failing at the gap, a reversal on the cards?
FXstreet.com (London) - USD/CHF has been one of the best performers of late, although the pair did manage to score a high of Friday above 0.9080 resistance.
However, USD/CHF looks heavy here and attempts to close the gap which has formed on Monday’s Asian and European session have failed. The US Government shut down is on going, and the CHF is acting as a safe haven. Research teams commented on current circumstances: “The US government shutdown continues, driving risk appetite lower. European and Asian stocks are broadly lower and US equity futures are following suit. Major commodities are mixed, with crude down 1% and gold stable. The JPY and the CHF out-perform versus a mixed USD while the commodity currencies under-perform”.
USD/CHF Level’s
The 20 DMA is 0.9142, the 50 DMA is 0.9225 and the 200 DMA is 0.9340. RSI (14) reads 39.42. Supports are ascending from 0.8968, 0.8979, 0.9001, 0.9024 and Spot is currently 0.9043. Resistances are coming in at 0.9070, 0.9082, 0.9101 and 0.9117.
However, USD/CHF looks heavy here and attempts to close the gap which has formed on Monday’s Asian and European session have failed. The US Government shut down is on going, and the CHF is acting as a safe haven. Research teams commented on current circumstances: “The US government shutdown continues, driving risk appetite lower. European and Asian stocks are broadly lower and US equity futures are following suit. Major commodities are mixed, with crude down 1% and gold stable. The JPY and the CHF out-perform versus a mixed USD while the commodity currencies under-perform”.
USD/CHF Level’s
The 20 DMA is 0.9142, the 50 DMA is 0.9225 and the 200 DMA is 0.9340. RSI (14) reads 39.42. Supports are ascending from 0.8968, 0.8979, 0.9001, 0.9024 and Spot is currently 0.9043. Resistances are coming in at 0.9070, 0.9082, 0.9101 and 0.9117.