USD/CHF registers daily records at 0.8945

FXstreet.com (Chicago) - USD/CHF manages to print 0.93% in gains today modeling the performance of the American equity indexes for a revelation of market participants’ psychology in regards to the confidence and hope spread among them.

USD/CHF Technical Levels

Price action reveals the pair attempts to reverse after extending a downward movement for almost 6 weeks on the loss of the 0.9240 front. Having broken one resistance, now immediate support, the pair remains strong on the latest confidence vote by the Fed to reduce the program by a few billion dollars. Offered at 0.8929, the pair navigates between the supports aligned at 0.8918 (September 20th 2011 lows), 0.8840 (December 10th lows) ahead of 0.8789 (October 25th lows) and the resistances set at 0.8974 (October 6th lows), 0.9031 (November 30th lows) followed by 0.9109 (December 10th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and oscillates above the EMA20. Whether it is arguable that the US is prepared for the reduction of the bond-buying program stimulus, the Fed decided it was time to reduce the monetary policy by a few billions despite maintaining interest rates low at 0.25%.