Back
17 Oct 2013
USD/CHF forging grounds around 0.9020 after +120 pips loss
FXstreet.com (Chicago) - USD/CHF forges grounds around the 0.9020 zone after plunging over 120 pips today accumulating a bloody 2.55% loss this month.
No winners
Earlier job market data in the US disappointed after the reopening of the government stating “there’s been a lot of discussion lately of the politics of this shutdown. But let’s be clear: There are no winners here. These last few weeks have inflicted completely unnecessary damage on our economy. We don’t know yet the full scope of the damage, but every analyst out there believes it slowed our growth” and worsening the situation.
USD/CHF Technical Levels
Plunging on worse than expected job market data and amid estimates of how much the shutdown costs to the nation and organizations involved in analyzing data, the pair finds grounds around the 0.9020 zone. With a primary trend diverging with shorter-term trends, the pair is offered at 0.9022 printing lower highs yet higher lows and oscillating between the supports aligned at 0.8993 (October 2nd lows), 0.8967 (October 3rd lows) ahead of 0.8875 (April 24th 2011 highs) and the resistances set at 0.9033 (October 3rd highs), 0.9082 (October 4th highs) followed by 0.9129 (October 14th highs).
No winners
Earlier job market data in the US disappointed after the reopening of the government stating “there’s been a lot of discussion lately of the politics of this shutdown. But let’s be clear: There are no winners here. These last few weeks have inflicted completely unnecessary damage on our economy. We don’t know yet the full scope of the damage, but every analyst out there believes it slowed our growth” and worsening the situation.
USD/CHF Technical Levels
Plunging on worse than expected job market data and amid estimates of how much the shutdown costs to the nation and organizations involved in analyzing data, the pair finds grounds around the 0.9020 zone. With a primary trend diverging with shorter-term trends, the pair is offered at 0.9022 printing lower highs yet higher lows and oscillating between the supports aligned at 0.8993 (October 2nd lows), 0.8967 (October 3rd lows) ahead of 0.8875 (April 24th 2011 highs) and the resistances set at 0.9033 (October 3rd highs), 0.9082 (October 4th highs) followed by 0.9129 (October 14th highs).