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4 Oct 2013
USD/CHF new high and continuing on in risk mode
FXstreet.com (London) - USD/CHF has been one of the best performers on a come back over the last 24hrs climbing a steep big figure higher to reach 0.9083.
However, the closer the US debt ceiling deadline becomes, the greater the risks to the credibility of the US Treasury, supporting the dollar, explained Jane Foley Senior Currency Strategist at Rabobank. “Gold, cash and other tangible assets could be in increased demand if the current stalemate drags into next week. In the FX world, we expect that the JPY and the CHF will continue to make headway vs. the USD”.
USD/CHF Levels
The 20 DMA is 0.9171, the 50 DMA is 0.9234 and the 200 DMA is 0.9341. RSI (14) reads 72.33. Supports are ascending from 0.8871, 0.8921, 0.8931, 0.8968, 0.8982, 0.9001 and 0.9037. Spot reads 0.9063 with resistance at 0.9080, 0.9100 and 0.9138.
However, the closer the US debt ceiling deadline becomes, the greater the risks to the credibility of the US Treasury, supporting the dollar, explained Jane Foley Senior Currency Strategist at Rabobank. “Gold, cash and other tangible assets could be in increased demand if the current stalemate drags into next week. In the FX world, we expect that the JPY and the CHF will continue to make headway vs. the USD”.
USD/CHF Levels
The 20 DMA is 0.9171, the 50 DMA is 0.9234 and the 200 DMA is 0.9341. RSI (14) reads 72.33. Supports are ascending from 0.8871, 0.8921, 0.8931, 0.8968, 0.8982, 0.9001 and 0.9037. Spot reads 0.9063 with resistance at 0.9080, 0.9100 and 0.9138.