29 Oct 2013
USD/CHF extends further; aims for 0.90
FXstreet.com (Chicago) - USD/CHF continues advancing minutes ahead of Wall Street’s closing printing 0.38% daily gains so far.
Ahead of the UBS consumption indicator, market participants seem contempt with the pair’s performance and increase bets on a potential bullish rally and further ascension.
USD/CHF Technical Levels
Extending the bullish channel that started last October 24th, the pair attempts to consolidate above the 0.8980 zone, targeting 0.90. Despite having a primary trend diverging from secondary and short-term price movement, the pair is pressed higher. Offered at 0.8987, the pair oscillates between the supports aligned at 0.8966 (October 25th highs), 0.8929 (October 24th highs) followed by 0.8891 (October 24th lows) and the resistances set at 0.90 (October 18th lows), 0.9036 (October 22nd highs) followed by 0.9065 (October 14th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Ahead of the UBS consumption indicator, market participants seem contempt with the pair’s performance and increase bets on a potential bullish rally and further ascension.
USD/CHF Technical Levels
Extending the bullish channel that started last October 24th, the pair attempts to consolidate above the 0.8980 zone, targeting 0.90. Despite having a primary trend diverging from secondary and short-term price movement, the pair is pressed higher. Offered at 0.8987, the pair oscillates between the supports aligned at 0.8966 (October 25th highs), 0.8929 (October 24th highs) followed by 0.8891 (October 24th lows) and the resistances set at 0.90 (October 18th lows), 0.9036 (October 22nd highs) followed by 0.9065 (October 14th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.