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20 Jun 2013
USD/CHF retreats back below resistance
FXstreet.com (New York) - The USD/CHF foreign exchange rate has continued waning off of earlier highs (0.9362) during US trading, slowly rescinding its gains Thursday.
USD/CHF upside move tepid at best
According to the Technical Analyst team at ICN.com, “The USD/CHF rushed to the upside and touched the previously broken key support and turned to resistance then rebounded to the downside. The pair failed to breach levels 0.9375 prevents us from suggesting an upside move, while stability above support level 0.9210 prevents us from favoring a bearish move, suggesting a neutral stance intraday.”
In terms of the recent data release in the United States, Initial Jobless Claims (June 15) came in at 354K, missing expectations of 340K. Moreover, Continuing Jobless Claims (June 8) were reported at 2.951M vs. a projection calling for 2.960M.
USD/CHF cannot sustain 0.9331 resistance
Following a destabilization during US trading, the USD/CHF has pared much its earlier gains to trade at to 0.9317, still up a healthy +0.34% above its opening at the time of writing. Mataf.net analysts point toward resistances at the 0.9331 region, then 0.9399, and finally 0.9476. Should the retracement continue unabated, supports will eventually be reached at 0.9186, ahead of 0.9109.
USD/CHF upside move tepid at best
According to the Technical Analyst team at ICN.com, “The USD/CHF rushed to the upside and touched the previously broken key support and turned to resistance then rebounded to the downside. The pair failed to breach levels 0.9375 prevents us from suggesting an upside move, while stability above support level 0.9210 prevents us from favoring a bearish move, suggesting a neutral stance intraday.”
In terms of the recent data release in the United States, Initial Jobless Claims (June 15) came in at 354K, missing expectations of 340K. Moreover, Continuing Jobless Claims (June 8) were reported at 2.951M vs. a projection calling for 2.960M.
USD/CHF cannot sustain 0.9331 resistance
Following a destabilization during US trading, the USD/CHF has pared much its earlier gains to trade at to 0.9317, still up a healthy +0.34% above its opening at the time of writing. Mataf.net analysts point toward resistances at the 0.9331 region, then 0.9399, and finally 0.9476. Should the retracement continue unabated, supports will eventually be reached at 0.9186, ahead of 0.9109.