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13 Aug 2013
USD/CHF bid and prints high 0.9291
FXstreet.com (Barcelona) - USD/CHF is has broken last weeks descending trend after Thursday support at 0.9180/0.9200.
USD/CHF has performed a move through 0.9220 resistance to find a high of 0.9291 overnight. The pair eyes EZ ZEW coming up for expectations in August for Switzerland, while the rest of the week will be dominated by US data while most keenly the market will focus on US jobs data towards the end of the week and CPI.
USD/CHF finds support
Axel Rudolph, Senior Technical Analyst at Commerzbank said USD/CHF has managed to find some support at the 0.9177 2013 support line and is attempting to recover ahead of the 0.9130 June low. “The market will need to overcome the accelerated resistance line at 0.9265 in order to alleviate immediate downside pressure. Above 0.9265 will target the 200 day ma at 0.9356 en route to the 55 day ma at 0.9388”.
USD/CHF has performed a move through 0.9220 resistance to find a high of 0.9291 overnight. The pair eyes EZ ZEW coming up for expectations in August for Switzerland, while the rest of the week will be dominated by US data while most keenly the market will focus on US jobs data towards the end of the week and CPI.
USD/CHF finds support
Axel Rudolph, Senior Technical Analyst at Commerzbank said USD/CHF has managed to find some support at the 0.9177 2013 support line and is attempting to recover ahead of the 0.9130 June low. “The market will need to overcome the accelerated resistance line at 0.9265 in order to alleviate immediate downside pressure. Above 0.9265 will target the 200 day ma at 0.9356 en route to the 55 day ma at 0.9388”.