Currency Analyst since 2010

FBS: commetns on USD/CHF

USD/CHF has tested last week the lowest level since Feb. at 0.8967, but then returned above 0.9000. The pair has been moving mostly sideways during the last week. The bulls have eroded the accelerated downtrend. There may be a temporary low at 0.8967, but as long as USD/CHF stays below 0.9150 (38.5 Fibo of the decline from Sept.) it will be under pressure to test 0.8930/8910 (2012 low and the base of a one year down channel). Still the pair has good chances to test this resistance. Resistance lies at 0.9065, 0.9078, 0.9100 and 0.9150. Support is at 0.9025, 0.9015, 0.9015 and 0.8965.

The greenback has a hard time with its attempts to the upside as US government remains partially shut and there is no news about any progress made to solve this problem. Swiss data released today was better than expected (retail sales, inflation). The SNB Chairman Jordan speaks at 16:00 GMT.

Chart. H4 USD/CHF


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