30 Jul 2013
USD/CHF retraced from 0.9320 strong resistance
FXstreet.com (Chicago) - USD/CHF continued to trade below 0.9320 resistance after accumulating 0.14% losses since opening.
While Wall Street closed green on outlook for Fed’s conclusions on two-day meetings, the greenback continued to lose ground against the Swissy. Earlier this afternoon, market participants reacted strongly to consumer confidence data that revealed a decrease in US economic activity according to the index published by the Conference Board. Results were 80.3 vs. projected 81.5.
Price action indicated a strong resistance at 0.9320 as pair continued to approach 0.9290 support. FXstreet.com technical studies reported pair as strongly bearish as it traded at 0.9295 at moment of writing, oscillating between 0.9290 support and 0.9344 resistance with MACD oscillator pointing down on 15-minute timeframe analysis.
While Wall Street closed green on outlook for Fed’s conclusions on two-day meetings, the greenback continued to lose ground against the Swissy. Earlier this afternoon, market participants reacted strongly to consumer confidence data that revealed a decrease in US economic activity according to the index published by the Conference Board. Results were 80.3 vs. projected 81.5.
Price action indicated a strong resistance at 0.9320 as pair continued to approach 0.9290 support. FXstreet.com technical studies reported pair as strongly bearish as it traded at 0.9295 at moment of writing, oscillating between 0.9290 support and 0.9344 resistance with MACD oscillator pointing down on 15-minute timeframe analysis.