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25 Jun 2013
USD/CHF eases off highs following US data
FXstreet.com (New York) - The USD/CHF technical pair jumped higher during Tuesday, following the release of upbeat US data that saw the pair trading in the heights of 0.9383 (intraday high).
In terms of the recent data in the United States, Durable Goods Orders (May) grew +3.6%, beating expectations of only +3.0%. Moreover, Durable Goods ex-Transportation (May) were reported at +0.7%, exceeding estimates of 0.0%. Finally the Housing Price Index (MoM) came in at +0.7%, compared with a figure of +1.5% previously.
USD/CHF possible downside below 0.9375
“The USD/CHF dropped yesterday and stabilized below 78.6% again, supporting negativity. We also find that the pair has rebounded to the downside after touching Linear Regression Indicator 55 and the broken bullish support level that turned to resistance. Therefore, a downside move is possible today with stability below 0.9375.” warns the Technical Analyst Team at ICN.com.
USD/CHF trading at resistance
Presently, the USD/CHF is still holding onto the majority of its gains at 0.9370 in these moments, securing a steadfast advance of +0.39% above it’s opening. The Mataf.net analyst team points to the next levels of resistive correction at 0.9371, onto 0.9411, and finally 0.9444. Conversely, the pair will face support at 0.9302, ahead 0.9273, and eventually 0.9233.
In terms of the recent data in the United States, Durable Goods Orders (May) grew +3.6%, beating expectations of only +3.0%. Moreover, Durable Goods ex-Transportation (May) were reported at +0.7%, exceeding estimates of 0.0%. Finally the Housing Price Index (MoM) came in at +0.7%, compared with a figure of +1.5% previously.
USD/CHF possible downside below 0.9375
“The USD/CHF dropped yesterday and stabilized below 78.6% again, supporting negativity. We also find that the pair has rebounded to the downside after touching Linear Regression Indicator 55 and the broken bullish support level that turned to resistance. Therefore, a downside move is possible today with stability below 0.9375.” warns the Technical Analyst Team at ICN.com.
USD/CHF trading at resistance
Presently, the USD/CHF is still holding onto the majority of its gains at 0.9370 in these moments, securing a steadfast advance of +0.39% above it’s opening. The Mataf.net analyst team points to the next levels of resistive correction at 0.9371, onto 0.9411, and finally 0.9444. Conversely, the pair will face support at 0.9302, ahead 0.9273, and eventually 0.9233.