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18 Sep 2013
USD/CHF still in the negative for the week below 0.9300 ahead of FOMC
FXstreet.com (Barcelona) - The EUR/CHF foreign exchange rate is last trading at bids 0.9266 near session highs still below -0.29% for the week on USD weakness mostly, ahead of key risk event for this triple witching week later on at 18:00 GMT in the form of FOMC.
USD/CHF might retrace to 0.9300
“Here's a break-and-retest scenario you wouldn't want to miss,” said the BabyPips.com FX-Men Team, adding: “USD/CHF is trending down on its 1-hour time frame and the falling trend line connecting its highs is still intact. The pair looks ready to test the trend line once more and, with the 61.8% Fib coinciding with a former support level, it looks like USD/CHF might just retrace to that area. It's pretty cool how it lines up with the .9300 major psychological resistance, too!.”
USD/CHF key technical levels
Immediate resistance to the upside for EUR/CHF shows at recent session highs/past Thursday's lows 0.9269, followed by yesterday's-Monday's highs/Friday's lows at 0.9280, and Sept 09 lows at 0.9300. To the downside, closest support lies at recent session lows 0.9255, followed by NY session daily lows at 0.9250, and fresh 3-week Monday's lows at 0.9225.
USD/CHF might retrace to 0.9300
“Here's a break-and-retest scenario you wouldn't want to miss,” said the BabyPips.com FX-Men Team, adding: “USD/CHF is trending down on its 1-hour time frame and the falling trend line connecting its highs is still intact. The pair looks ready to test the trend line once more and, with the 61.8% Fib coinciding with a former support level, it looks like USD/CHF might just retrace to that area. It's pretty cool how it lines up with the .9300 major psychological resistance, too!.”
USD/CHF key technical levels
Immediate resistance to the upside for EUR/CHF shows at recent session highs/past Thursday's lows 0.9269, followed by yesterday's-Monday's highs/Friday's lows at 0.9280, and Sept 09 lows at 0.9300. To the downside, closest support lies at recent session lows 0.9255, followed by NY session daily lows at 0.9250, and fresh 3-week Monday's lows at 0.9225.