7 Aug 2013
USDH/CHF on steady plunge
FXstreet.com (Chicago) - USD/CHF was down 0.53% as the Swissy strengthened throughout Wednesday’s session.
Earlier in Europe, the Swiss National Bank released its foreign currency reserves indicating a slight improvement vs. previous results at 434.9B francs. The Swiss Federal Statistical Office published its consumer price index for June at -0.4%, matching expectations. In the US, mortgage applications were due at 0.2% vs. previous -3.7% and EIA crude oil stocks change indicated a decrease in oil demand at -1.320M vs. previous 0.431M.
Technically speaking, the pair traded at 0.9210 oscillating between supports at 0.9201 (June 17th highs), 0.9176 (June 18th lows) ahead of 0.9131 (June 12th lows) and resistances at 0.9224 (July 31st lows), 0.9240, (June 21st lows) followed by 0.9276 (June 11th highs). The FXstreet trend index reported the pair as slightly bearish as the price continued trading below short and long-term moving averages and volume indicators such as the MACD pointed down.
Earlier in Europe, the Swiss National Bank released its foreign currency reserves indicating a slight improvement vs. previous results at 434.9B francs. The Swiss Federal Statistical Office published its consumer price index for June at -0.4%, matching expectations. In the US, mortgage applications were due at 0.2% vs. previous -3.7% and EIA crude oil stocks change indicated a decrease in oil demand at -1.320M vs. previous 0.431M.
Technically speaking, the pair traded at 0.9210 oscillating between supports at 0.9201 (June 17th highs), 0.9176 (June 18th lows) ahead of 0.9131 (June 12th lows) and resistances at 0.9224 (July 31st lows), 0.9240, (June 21st lows) followed by 0.9276 (June 11th highs). The FXstreet trend index reported the pair as slightly bearish as the price continued trading below short and long-term moving averages and volume indicators such as the MACD pointed down.