8 Jul 2013
USD/CHF bottoms out
FXstreet.com (New York) - The USD/CHF foreign exchange rate bottomed out in the depths of 0.9624 (intraday low) Monday, ultimately stabilizing its losses on the day.
USD/CHF still fortified by support
In recent minutes, the USD/CHF has recovered slightly towards the mark of 0.9633 in these moments, still -0.23% off its opening. Despite the fall today and weakness permeating the pair, supports have yet to be triggered at 0.9589, then 0.9528, and finally 0.9492, notes the Mataf.net analyst team.
USD/CHF bullishness to continue only past 0.9690
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved to the upside, consolidating above the second target of the bullish alternative harmonic Bat Pattern represented in 61.8% correction at 0.9565. At this juncture, it is considered our intraday interval for this week’s trading as stability above it might extend the upside targets. However, breaching 0.9690 might trigger another bullish wave.”
USD/CHF still fortified by support
In recent minutes, the USD/CHF has recovered slightly towards the mark of 0.9633 in these moments, still -0.23% off its opening. Despite the fall today and weakness permeating the pair, supports have yet to be triggered at 0.9589, then 0.9528, and finally 0.9492, notes the Mataf.net analyst team.
USD/CHF bullishness to continue only past 0.9690
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved to the upside, consolidating above the second target of the bullish alternative harmonic Bat Pattern represented in 61.8% correction at 0.9565. At this juncture, it is considered our intraday interval for this week’s trading as stability above it might extend the upside targets. However, breaching 0.9690 might trigger another bullish wave.”