Back
23 Aug 2013
USD/CHF struggling to consolidate above 0.9210
FXstreet.com (Chicago) - USD/CHF continues struggling to get ahead immediate resistance at critical 0.9210 zone. The pair stumbled on US housing market data and failed to recover losses on several attempts.
What to expect?
Wall Street closed with gains with the Dow up 0.31%, the Nasdaq up 0.52% and the S&P500 higher 0.39% after housing market data disappointed in the US, sending the pair below the 0.92 zone as well as pulling down US yields. Earlier in Europe, the Swiss Market Index had closed up 0.23% ahead of the Jackson Hole Symposium conclusions on worldwide economic state of affairs and Fed’s tapering.
USD/CHF Technical Levels
Price action indicates the pair flows at critical 0.9211 juncture, identified as previous resistance (August 20th highs) ahead of 0.9232 (August 22nd lows) and 0.9258 (August 13th lows). On the downside, supports are set at 0.9190 (August 9th lows), 0.9171 (August 8th lows) followed by 0.9158 (August 20th lows). The pair was pushed higher but was capped at 0.9220 to then fall and bounce off 0.92 zone. According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis, accumulating 0.21% daily losses and 0.54% weekly losses.
What to expect?
Wall Street closed with gains with the Dow up 0.31%, the Nasdaq up 0.52% and the S&P500 higher 0.39% after housing market data disappointed in the US, sending the pair below the 0.92 zone as well as pulling down US yields. Earlier in Europe, the Swiss Market Index had closed up 0.23% ahead of the Jackson Hole Symposium conclusions on worldwide economic state of affairs and Fed’s tapering.
USD/CHF Technical Levels
Price action indicates the pair flows at critical 0.9211 juncture, identified as previous resistance (August 20th highs) ahead of 0.9232 (August 22nd lows) and 0.9258 (August 13th lows). On the downside, supports are set at 0.9190 (August 9th lows), 0.9171 (August 8th lows) followed by 0.9158 (August 20th lows). The pair was pushed higher but was capped at 0.9220 to then fall and bounce off 0.92 zone. According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis, accumulating 0.21% daily losses and 0.54% weekly losses.