24 Jul 2013
USD/CHF MACD below zero line
FXstreet.com (Barcelona) - USD/CHF is trading at the pivot in the opening hours of London markets.
USD/CHF penetrated 0.9400 yesterday afternoon but failed to onto Mondays highs and fell sharply is a similar fashion as it had risen, all the way back to the pivot, and some, to print a low 0.9341. The pair is suffering in a soft dollar environment where investors have taken profits overall out of the recent long dollar positioning. They are reluctant to invest fully while the markets are fixated on the varying degrees of performances from the US economy.
USD/CHF Levels
Danske Banks Technical Update gives us 20d ma at 0.9480, 50d ma 0.9464 and 200d ma 0.9360, with RSI (9) 37.47. Support comes 0.9270, 0.9297, 0.9313, 0.9322 while Spot trades at time of writing 0.9347. Resistances are 0.9370, 0.9383, 0.9408 and 0.9416 “With the MACD settled below the zero line, our focus is on further downside, with initial support at 0.9242 ahead of critical 0.9130.Resistance is at 0.9416 ahead of 0.9478” - Gareth Berry, UBS FX Strategy.
USD/CHF penetrated 0.9400 yesterday afternoon but failed to onto Mondays highs and fell sharply is a similar fashion as it had risen, all the way back to the pivot, and some, to print a low 0.9341. The pair is suffering in a soft dollar environment where investors have taken profits overall out of the recent long dollar positioning. They are reluctant to invest fully while the markets are fixated on the varying degrees of performances from the US economy.
USD/CHF Levels
Danske Banks Technical Update gives us 20d ma at 0.9480, 50d ma 0.9464 and 200d ma 0.9360, with RSI (9) 37.47. Support comes 0.9270, 0.9297, 0.9313, 0.9322 while Spot trades at time of writing 0.9347. Resistances are 0.9370, 0.9383, 0.9408 and 0.9416 “With the MACD settled below the zero line, our focus is on further downside, with initial support at 0.9242 ahead of critical 0.9130.Resistance is at 0.9416 ahead of 0.9478” - Gareth Berry, UBS FX Strategy.