21 Aug 2013
USD/CHF, bulls pressing higher; 0.92 zone maintained
FXstreet.com (Chicago) - USD/CHF is being pushed higher by bulls as the greenback continues strengthening and protecting the 0.36% daily gains so far minutes away from the FOMC minutes release.
Stronger dollar
Technically speaking, the dollar has strengthened against the swissy to snap back above 0.92 zone. At 0.9202, the pair trades between supports at 0.9190 (June 12th lows), 0.9172 (August 8th lows) ahead of 0.9151 (August 9th lows) and resistances at 0.9211 (August 17th lows), 0.9232 (July 31st lows) followed by 0.9247 (August 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
Uncertain outlook
The ICN technical analysis team reports “the pair retested 88.6% correction at 0.9205 and remained stable below it. Stability below the mentioned level forces us to think that the downside move might extend, while stability below 0.9180 strengthen this possibility” ahead of the FOMC minutes.
Stronger dollar
Technically speaking, the dollar has strengthened against the swissy to snap back above 0.92 zone. At 0.9202, the pair trades between supports at 0.9190 (June 12th lows), 0.9172 (August 8th lows) ahead of 0.9151 (August 9th lows) and resistances at 0.9211 (August 17th lows), 0.9232 (July 31st lows) followed by 0.9247 (August 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
Uncertain outlook
The ICN technical analysis team reports “the pair retested 88.6% correction at 0.9205 and remained stable below it. Stability below the mentioned level forces us to think that the downside move might extend, while stability below 0.9180 strengthen this possibility” ahead of the FOMC minutes.