30 Oct 2013
USD/CHF extends losses after US data
FXstreet.com (Córdoba) - The USD/CHF extended losses to fresh daily lows after a disappointing Reading of the US ADP employment report.
USD/CHF weighed by ADP
The USD/CHF, which was already under pressure, slid to a low of 0.8954 but quickly recover ground as investors refrain from taking big positions ahead of the Fed monetary policy statement. In the macroeconomic front, the US private sector added 130,000 jobs in October, against 150,000 expected, while the September figure was downwardly revised to 145,000 from 166,000 previously estimates. Meanwhile, September consumer prices grew mainly in line with expectations, giving the Fed no reason to rush to tighten its policy.
USD/CHF technical levels
At time of writing, USD/CHF is trading at the 0.8965 zone, 0.3% below its opening price, with immediate supports seen at 0.8954 (daily low) and 0.8930 (Oct 25 high), while resistances could be found at 0.9000/06 (psychological level/daily high) and 0.9038 (Oct 22 high).
USD/CHF weighed by ADP
The USD/CHF, which was already under pressure, slid to a low of 0.8954 but quickly recover ground as investors refrain from taking big positions ahead of the Fed monetary policy statement. In the macroeconomic front, the US private sector added 130,000 jobs in October, against 150,000 expected, while the September figure was downwardly revised to 145,000 from 166,000 previously estimates. Meanwhile, September consumer prices grew mainly in line with expectations, giving the Fed no reason to rush to tighten its policy.
USD/CHF technical levels
At time of writing, USD/CHF is trading at the 0.8965 zone, 0.3% below its opening price, with immediate supports seen at 0.8954 (daily low) and 0.8930 (Oct 25 high), while resistances could be found at 0.9000/06 (psychological level/daily high) and 0.9038 (Oct 22 high).