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28 Aug 2013
USD/CHF extends bullish momentum
FXstreet.com (Chicago) - USD/CHF consolidates earlier reversal from last session’s lows after steady climb above 0.92 zone.
War concerns easing down?
Earlier in Europe, the UBS Consumption Indicator for July in Switzerland was 1.41 vs. a previous 1.44. In the US, pending home sales (MoM) for July were -1.3% vs. estimates at 0.2% and past -0.4% results. The YoY results were 6.7% compared to a previous 10.9%. In Europe, the equity stocks were dragged down by Syrian concerns as potential retaliation by the US in under way in the next incoming days.
USD/CHF Technical Levels
Price action reveals the pair is capped at 0.9237 zone after reaching this level twice but falling to break through, the pair retraced to 0.9220 zone. At 0.9224, price fluctuates between supports at 0.9211 (August 16th lows), 0.9190 (August 23rd lows) ahead of 0.9173 (August 27th lows) and resistances at 0.9232 (August 15th lows), 0.9246 (August 26th highs) followed by 0.9262 (August 23rd highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis with daily gains adding up 0.52%.
War concerns easing down?
Earlier in Europe, the UBS Consumption Indicator for July in Switzerland was 1.41 vs. a previous 1.44. In the US, pending home sales (MoM) for July were -1.3% vs. estimates at 0.2% and past -0.4% results. The YoY results were 6.7% compared to a previous 10.9%. In Europe, the equity stocks were dragged down by Syrian concerns as potential retaliation by the US in under way in the next incoming days.
USD/CHF Technical Levels
Price action reveals the pair is capped at 0.9237 zone after reaching this level twice but falling to break through, the pair retraced to 0.9220 zone. At 0.9224, price fluctuates between supports at 0.9211 (August 16th lows), 0.9190 (August 23rd lows) ahead of 0.9173 (August 27th lows) and resistances at 0.9232 (August 15th lows), 0.9246 (August 26th highs) followed by 0.9262 (August 23rd highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis with daily gains adding up 0.52%.