8 Aug 2013
USD/CHF pocketing 0.13% gains on steady climb
FXstreet.com (Chicago) - USD/CHF went through a series of ups and downs as the Swissy gave in progressively.
Price action indicated strong volatility since the beginning of the trading journey in Asia after the pair reached 0.9228 levels to stabilize within 0.9225 ranges. On the upside, the pair oscillated below resistances at 0.9241 (June 20th lows), 0.9257 (June 13th highs) ahead of 0.9286 (June 11th highs). On the downside, supports were aligned at 0.9224 (June 5th lows), 0.9201 (June 17th highs), 0.9176 (June 12th highs). The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis with a price still trading on 6-weeks lows and below short and long-term moving averages.
The ICN technical analysis team reported the pair with a general trend heading down for the short term. Market participants await for labor data to be published in the US later in the day.
Price action indicated strong volatility since the beginning of the trading journey in Asia after the pair reached 0.9228 levels to stabilize within 0.9225 ranges. On the upside, the pair oscillated below resistances at 0.9241 (June 20th lows), 0.9257 (June 13th highs) ahead of 0.9286 (June 11th highs). On the downside, supports were aligned at 0.9224 (June 5th lows), 0.9201 (June 17th highs), 0.9176 (June 12th highs). The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis with a price still trading on 6-weeks lows and below short and long-term moving averages.
The ICN technical analysis team reported the pair with a general trend heading down for the short term. Market participants await for labor data to be published in the US later in the day.