18 Sep 2013
USD/CHF steadies after hitting 2-day low
FXstreet.com (Córdoba) - The dollar weakened versus the perceived safe-havens currencies Wednesday, dragging USD/CHF to a 2-day low as investors eagerly await the FOMC policy decision.
USD weighed by FOMC expectations
Some analysts note that US dollar weakness heading into today’s FOMC meeting reflects investor expectations that the Fed will deliver a dovish taper. USD/CHF came under mild pressure and dropped to a low of 0.9247 during the European session before finding support. At time of writing, USD/CHF is trading around 0.9360, virtually unchanged on the day.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find immediate supports at 0.9247 (daily low) and 0.9225 (Sep 16 low) ahead of 0.9200 (psychological level). On the flip side, resistances are seen at 0.9280 (100-hour SMA), 0.9300 (psychological level) and 0.9318 (10-day SMA).
USD weighed by FOMC expectations
Some analysts note that US dollar weakness heading into today’s FOMC meeting reflects investor expectations that the Fed will deliver a dovish taper. USD/CHF came under mild pressure and dropped to a low of 0.9247 during the European session before finding support. At time of writing, USD/CHF is trading around 0.9360, virtually unchanged on the day.
USD/CHF technical levels
In terms of technical levels, USD/CHF could find immediate supports at 0.9247 (daily low) and 0.9225 (Sep 16 low) ahead of 0.9200 (psychological level). On the flip side, resistances are seen at 0.9280 (100-hour SMA), 0.9300 (psychological level) and 0.9318 (10-day SMA).