31 Jul 2013
USD/CHF eliminates gains and returns to 0.9300
FXstreet.com (New York) - The USD/CHF foreign exchange rate peaked at the 0.9339 level (intraday high) Wednesday, triggering an abrupt selloff back to the 0.9300 region.
USD/CHF strategic bias
Presently, USD/CHF is now testing the 0.9300 level, paring all its gains and operating at a -0.03% loss off its opening. Technically speaking, the Danske Research Team calculates the next short-term supports for the USD/CHF at 0.9263, ahead of 0.9242. Conversely, resistances lie ahead at 0.9324, and 0.9338.
According to the Technical Analyst Team at ICN.com, “The USD/CHF is currently trading higher benefiting from stability above 0.9265. Prolonged stability above Linear Regression Indicators and the failed attempts to breach the support at 78.6% make us favor the upside correction, and we expect the bullish move to extend in the US session.”
USD/CHF strategic bias
Presently, USD/CHF is now testing the 0.9300 level, paring all its gains and operating at a -0.03% loss off its opening. Technically speaking, the Danske Research Team calculates the next short-term supports for the USD/CHF at 0.9263, ahead of 0.9242. Conversely, resistances lie ahead at 0.9324, and 0.9338.
According to the Technical Analyst Team at ICN.com, “The USD/CHF is currently trading higher benefiting from stability above 0.9265. Prolonged stability above Linear Regression Indicators and the failed attempts to breach the support at 78.6% make us favor the upside correction, and we expect the bullish move to extend in the US session.”