26 Sep 2013
USD/CHF gradually recovering; back above 0.91
FXstreet.com (Chicago) - USD/CHF continues printing higher highs and lows but remains around the 9-month depths after last week’s fall on FOMC and Fed’s decisions.
Mixed US results ahead of WS closing
Mixed US results fueled the pair higher but the gasoline was not enough for a breakthrough above the 0.9114 zone. The GDP annualized failed to meet expectations and settled for 2.5% vs. estimates at 2.6%. Continuing jobless claims fell to 2.823 vs. past 2.788 and projections at 2.840M. Initial jobless claims were 305K vs. past 310K and estimates at 310K. Amid concerns for the debt deficit and ceiling along time that fades away, Washington remains undecided about what to do.
USD/CHF Technical Levels
Price action reveals the pair snapped back up above the 0.91 zone but remains glued to the grounds and is offered at 0.9104 to trade between supports aligned at 0.9091 (September 18th lows) facing 0.9058 (February 1st lows) and 0.9019 (January 24th lows) and resistances set at 0.9126 (September 18th highs), 0.9168 (August 27th lows) followed by 0.9217 (September 13th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Mixed US results ahead of WS closing
Mixed US results fueled the pair higher but the gasoline was not enough for a breakthrough above the 0.9114 zone. The GDP annualized failed to meet expectations and settled for 2.5% vs. estimates at 2.6%. Continuing jobless claims fell to 2.823 vs. past 2.788 and projections at 2.840M. Initial jobless claims were 305K vs. past 310K and estimates at 310K. Amid concerns for the debt deficit and ceiling along time that fades away, Washington remains undecided about what to do.
USD/CHF Technical Levels
Price action reveals the pair snapped back up above the 0.91 zone but remains glued to the grounds and is offered at 0.9104 to trade between supports aligned at 0.9091 (September 18th lows) facing 0.9058 (February 1st lows) and 0.9019 (January 24th lows) and resistances set at 0.9126 (September 18th highs), 0.9168 (August 27th lows) followed by 0.9217 (September 13th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.