22 Jul 2013
USD/CHF advancing to test 0.9400
FXstreet.com (London) - Despite a weaker set of data from the US, the USD/CHF is continuing to test to the upside.
USD/CHF is moving back up today from a tumble it had made earlier in the European open down from 0.9408. Chicago Fed National Activity Index (Jun) printed negatively for the dollar at -0.1 against a previous -0.3 and consensus 0.0.
Up next we will have Existing Home Sales Change coming up at 2GMT while later on in the week, we will see US Durable Goods Orders for June on Thursday.
USD/CHF rangebound
Resistance is at 0.9478 ahead of 0.9555 while there is strong support at 0.9367, which was tested last week. A closing break below this would be negative, exposing 0.9242. – UBS FX Strategy, Gareth Berry. Meanwhile, the pair is attempting the handle 0.9400 but noting that it has struggled to clear the 55 day ma at 0.9478 previously and will need to manage the 0.9568 and March high in order to alleviate immediate downside pressures before it can retarget the 0.9753 July high.
USD/CHF is moving back up today from a tumble it had made earlier in the European open down from 0.9408. Chicago Fed National Activity Index (Jun) printed negatively for the dollar at -0.1 against a previous -0.3 and consensus 0.0.
Up next we will have Existing Home Sales Change coming up at 2GMT while later on in the week, we will see US Durable Goods Orders for June on Thursday.
USD/CHF rangebound
Resistance is at 0.9478 ahead of 0.9555 while there is strong support at 0.9367, which was tested last week. A closing break below this would be negative, exposing 0.9242. – UBS FX Strategy, Gareth Berry. Meanwhile, the pair is attempting the handle 0.9400 but noting that it has struggled to clear the 55 day ma at 0.9478 previously and will need to manage the 0.9568 and March high in order to alleviate immediate downside pressures before it can retarget the 0.9753 July high.