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27 Aug 2013
USD/CHF vulnerable below 0.9200 as volatility flares
FXstreet.com (New York) - The USD/CHF foreign exchange rate cannot retake the 0.9200 barrier, which comes on the heels of an earlier collapse towards 0.9172 (intraday low).
In the United States, Consumer Confidence (August) came in at 81.5, beating estimates of 80.3.
At this juncture, the USD/CHF is now trading at 0.9182, incurring a staunch loss of -0.51%. Briefing the technicals, the USD/CHF will encounter means of support at 0.9177 and 0.9150, notes the Mataf.net analyst team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF’s attempt to break 88.6% correction failed and the pair moved to the upside again. Meanwhile, the pair is trading below 78.6% correction at 0.9265. The pair is also stuck now between Linear Regression Indicator 34 and 55. Therefore, we prefer to remain neutral during the U.S. session.”
In the United States, Consumer Confidence (August) came in at 81.5, beating estimates of 80.3.
At this juncture, the USD/CHF is now trading at 0.9182, incurring a staunch loss of -0.51%. Briefing the technicals, the USD/CHF will encounter means of support at 0.9177 and 0.9150, notes the Mataf.net analyst team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF’s attempt to break 88.6% correction failed and the pair moved to the upside again. Meanwhile, the pair is trading below 78.6% correction at 0.9265. The pair is also stuck now between Linear Regression Indicator 34 and 55. Therefore, we prefer to remain neutral during the U.S. session.”