Daily Chart
Yesterday, Switzerand did not release any economic reports, which means that the sell-off of USD/CHF was the result of the events in the United States and risk sentiment.
Meanwhile, the Swiss franc benefited yesterday as the U.S. government shutdown was finally resolved.
Other than that, the news on the U.S. rating downgrade also pushed the USD/CHF pair down.
This made USD/CHF find support around 0.9000, the same level that matches the centerline of its downtrend channel.
Today, during the last day of the week, we do not expect strong movements and the couple may close the day below 0.9033.
4 Hour Chart
The 4H chart showed this morning that the pair is below the line of 0/8 (solid line) having as next support line overrun end -1 / 8.
The franc might be able to continue taking advantage of the weak dollar as risk appetite persists. On the other hand, profit taking could also take place before the end of the week.
Technically we believe that the US /CHF will oscillate between 0.9000 and 0.9033 during the day so we did not see any opportunity to enter an order for today and will have to wait for the opening of the next session in order to see a picture clearly.
If you have any questions or suggestions, please contact me via email:antonio.inga@analytics.instaforex.com
DISCLAIMER
No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.
The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
