USD/CHF fails to break above 0.9090 resistance area


  • US dollar upside attempt has been capped right below 0.9100.
  • The dollar loses momentum as risk aversion eases.
  • Traders become increasingly cautious ahead of the US elections.

The US dollar attempted to break above the top of the last five days’ trading range, at 0.9090, on Tuesday to find sellers at 0.9095 before retreating to 0.9060 area.

US dollar loses steam as risk aversion eases

The greenback has lost momentum on Tuesday, with the US Dollar Index slightly negative on the day following a strong performance on Monday. With risk aversion easing somewhat, the greenback's bullish attempt has lacked follow-through above 0.9090 and the pair has returned to previous levels although it remains slightly positive on the day.

Investors seem to have taken profits on Tuesday, rolling back USD longs with the uncertainty about the approaching US elections prompting a cautious approach to the market.

US Equity markets are mixed after a slightly negative opening, following sharp declines on Monday. The Nasdaq Composite Index is trading 0.6% above opening levels, with the SP 500 and The Dow Jones giving away 0.3% and 0.8% respectively.

In the macroeconomic front, US durable goods orders and housing prices figures have posted better than expected readings, which have contributed to buoy market sentiment during the North American trading session.

Technical levels to watch

USD/CHF

Overview
Today last price 0.9086
Today Daily Change 0.0008
Today Daily Change % 0.09
Today daily open 0.9078
 
Trends
Daily SMA20 0.9133
Daily SMA50 0.9128
Daily SMA100 0.9232
Daily SMA200 0.9456
 
Levels
Previous Daily High 0.9081
Previous Daily Low 0.9041
Previous Weekly High 0.9166
Previous Weekly Low 0.9031
Previous Monthly High 0.9296
Previous Monthly Low 0.8999
Daily Fibonacci 38.2% 0.9066
Daily Fibonacci 61.8% 0.9056
Daily Pivot Point S1 0.9053
Daily Pivot Point S2 0.9027
Daily Pivot Point S3 0.9013
Daily Pivot Point R1 0.9092
Daily Pivot Point R2 0.9106
Daily Pivot Point R3 0.9132

 

 

 

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