20 Aug 2013
USD/CHF, rising on K.O. aftershocks? Target unreachable at 0.92 zone
FXstreet.com (Chicago) - USD/CHF sharply declined 0.64% today to accumulate 0.90% weekly losses so far. Market participants sold off the greenback on weaker than expected US data releases ahead of plentiful data awaited later this week.
Focused attention
Recovering from 0.9147 lows, the pair has stalled at the 0.9170 zone for the past hour. The FOMC minutes to be released tomorrow among other housing and manufacturing later this week, the attention remains focused in the US economic recovery and the Fed’s tapering.
Technical Levels
Technically speaking, the pair trades at 0.9177 between supports at 0.9172 (June 20th lows), 0.9151 (February 13th lows) ahead of 0.9132 (June 5th lows) and resistances at 0.9190 (December 17th 2012 highs), 0.9211 (February 20th lows) followed by 0.9227 (July 31st lows). The FXstreet.com trend index reports the pair as strongly bearish on one-hour timeframe analysis with a current price below the EMA20.
Focused attention
Recovering from 0.9147 lows, the pair has stalled at the 0.9170 zone for the past hour. The FOMC minutes to be released tomorrow among other housing and manufacturing later this week, the attention remains focused in the US economic recovery and the Fed’s tapering.
Technical Levels
Technically speaking, the pair trades at 0.9177 between supports at 0.9172 (June 20th lows), 0.9151 (February 13th lows) ahead of 0.9132 (June 5th lows) and resistances at 0.9190 (December 17th 2012 highs), 0.9211 (February 20th lows) followed by 0.9227 (July 31st lows). The FXstreet.com trend index reports the pair as strongly bearish on one-hour timeframe analysis with a current price below the EMA20.