8 Aug 2013
USD/CHF, painful comeback?
FXstreet.com (Chicago) - USD/CHF was unable to break above 0.9200 zone despite multiple attempts reemerge from 4-week lows.
The greenback had accumulated 0.18% losses since the beginning of the trading journey potentially due to weaker-than expected job market data: continuing jobless claims increased above estimates to 3.018M vs. projections at 2.950M and increasing initial jobless claims at 333K compared to a previous 328K.
Technically speaking, the pair traded at 0.9196 between supports at 0.9176 (June 12th lows), 0.9151 (February 14th lows) ahead of 0.9130 (June 10th lows) and resistances at 0.9200 (June 11 highs), 0.9224 (June 9th lows) followed by 0.9255 (June 20th lows). The FXstreet trend index reported the pair as strongly bearish on one-hour timeframe analysis and MACD and CCI indicators pointing down.
The greenback had accumulated 0.18% losses since the beginning of the trading journey potentially due to weaker-than expected job market data: continuing jobless claims increased above estimates to 3.018M vs. projections at 2.950M and increasing initial jobless claims at 333K compared to a previous 328K.
Technically speaking, the pair traded at 0.9196 between supports at 0.9176 (June 12th lows), 0.9151 (February 14th lows) ahead of 0.9130 (June 10th lows) and resistances at 0.9200 (June 11 highs), 0.9224 (June 9th lows) followed by 0.9255 (June 20th lows). The FXstreet trend index reported the pair as strongly bearish on one-hour timeframe analysis and MACD and CCI indicators pointing down.