25 Jul 2013
USD/CHF bounces off lows
FXstreet.com (New York) - The USD/CHF foreign exchange rate bottomed out recently, having experienced a sharp downtown in the aftermath of generally mixed US data.
In the United States, Durable Goods Orders rose +4.2% in June, crushing expectations of only +0.5%. Moreover, Durable Goods Orders ex Transportation (June) came in unchanged, missing estimates of +0.5%. Finally, Initial Jobless Claims (July 19) were reported at 343K, against projections calling for 340K.
Presently, the USD/CHF is operating in negative territory, down -0,31%, despite bouncing off session lows (0.9324) towards 0.9348 in these moments. Briefing the technicals, the pair remains fortified by support at 0.9349, ahead of 0.9320, and 0.9300, notes the Mataf.net analyst team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “Despite the USD/CHF upside attempts yesterday, staying below 0.9445 keeps the negative possibility. We also find the pair trading slightly below 0.9370 keeping the possibility of extending the intraday downside move today. Meanwhile, the stochastic is showing a negative crossover attempt supporting our expectations.”
In the United States, Durable Goods Orders rose +4.2% in June, crushing expectations of only +0.5%. Moreover, Durable Goods Orders ex Transportation (June) came in unchanged, missing estimates of +0.5%. Finally, Initial Jobless Claims (July 19) were reported at 343K, against projections calling for 340K.
Presently, the USD/CHF is operating in negative territory, down -0,31%, despite bouncing off session lows (0.9324) towards 0.9348 in these moments. Briefing the technicals, the pair remains fortified by support at 0.9349, ahead of 0.9320, and 0.9300, notes the Mataf.net analyst team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “Despite the USD/CHF upside attempts yesterday, staying below 0.9445 keeps the negative possibility. We also find the pair trading slightly below 0.9370 keeping the possibility of extending the intraday downside move today. Meanwhile, the stochastic is showing a negative crossover attempt supporting our expectations.”