5 Sep 2013
USD/CHF backs away from 7-week high
FXstreet.com (Córdoba) - The USD/CHF broke above the 0.9400 level on Thursday and stretched to its highest level in 7 weeks during the New York session, propelled by US data.
However, following half-session loaded with data and central banks, the USD/CHF lost momentum and pulled back from highs as market now faces a transition path ahead of the US nonfarm payrolls report, due for release Friday at 12:30GMT.
USD/CHF technical levels
USD/CHF slid from a high of 0.9454 toward the 0.9430 zone, where it trades at time of writing, still 0.8% above its opening price. Immediate resistances for the pair line up at 0.9454 (daily high), 0.9477 (Jul 18 high) and 0.9492 (Jul 16 high), while supports are seen at 0.9400 (psychological level) and 0.9351 (daily low).
However, following half-session loaded with data and central banks, the USD/CHF lost momentum and pulled back from highs as market now faces a transition path ahead of the US nonfarm payrolls report, due for release Friday at 12:30GMT.
USD/CHF technical levels
USD/CHF slid from a high of 0.9454 toward the 0.9430 zone, where it trades at time of writing, still 0.8% above its opening price. Immediate resistances for the pair line up at 0.9454 (daily high), 0.9477 (Jul 18 high) and 0.9492 (Jul 16 high), while supports are seen at 0.9400 (psychological level) and 0.9351 (daily low).