24 Jul 2013
USD/CHF eases off highs
FXstreet.com (New York) - The USD/CHF foreign exchange rate eased off earlier highs at 0.9383 Wednesday, still clinging to positive gains during US trading despite the pullback.
In the United States, Markit Manufacturing PMI (July) came in at 53.2, beating estimates of 51.9, and compared with a figure of 51.9 previously.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The pair failed to stabilize above 0.9370 represented in 61.8% supporting our negative expectations. Trading below 0.9370 favors the extension of the downside move to test around 78.6% correction at 0.9265. Of note, Linear Regression Indicators support our expectations.”
In light of the recent easing, the USD/CHF is presently trading in the area of 0.9369 in these moments, still securing an advance of +0.22% above its opening. Resistive means will trigger if the pair retests 0.9389, onto 0.9431, and 0.94954, calculates the Mataf.net analyst team.
In the United States, Markit Manufacturing PMI (July) came in at 53.2, beating estimates of 51.9, and compared with a figure of 51.9 previously.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The pair failed to stabilize above 0.9370 represented in 61.8% supporting our negative expectations. Trading below 0.9370 favors the extension of the downside move to test around 78.6% correction at 0.9265. Of note, Linear Regression Indicators support our expectations.”
In light of the recent easing, the USD/CHF is presently trading in the area of 0.9369 in these moments, still securing an advance of +0.22% above its opening. Resistive means will trigger if the pair retests 0.9389, onto 0.9431, and 0.94954, calculates the Mataf.net analyst team.