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13 Jun 2013
USD/CHF moves to 0.9235 after US retail sales
FXstreet.com (New York) - The USD/CHF technical pair rallied ahead to fresh session highs Thursday, after the release of upbeat economic data in the US.
In the United States, Retail Sales (MoM) have climbed +0.6% in May, beating expectations of +0.4%. Moreover, Initial Jobless Claims (June 7) yielded 334K, against estimates of 345K.
USD/CHF bearishness looks to extend towards 0.9035
According to the Technical Analyst Team at ICN.com, “The USD/CHF dropped again and is trading below bottom C of the AB=CD bearish harmonic Pattern. Based on harmonic analysis, stability below this level at 0.9210 might extend the downside move. The pattern's upcoming targets reside at 0.9125 followed by 0.9035 levels.”
Presently, the USD/CHF is advancing at a rate of +0.28% above its opening Thursday, having settled at 0.9235. Mataf.net analysts identify further resistive measures for the pair at 0.9257, onto 0.9329, and 0.9371. On the decline, a break below the 0.9143 handle will initiate supports at 0.9101 and 0.9029.
In the United States, Retail Sales (MoM) have climbed +0.6% in May, beating expectations of +0.4%. Moreover, Initial Jobless Claims (June 7) yielded 334K, against estimates of 345K.
USD/CHF bearishness looks to extend towards 0.9035
According to the Technical Analyst Team at ICN.com, “The USD/CHF dropped again and is trading below bottom C of the AB=CD bearish harmonic Pattern. Based on harmonic analysis, stability below this level at 0.9210 might extend the downside move. The pattern's upcoming targets reside at 0.9125 followed by 0.9035 levels.”
Presently, the USD/CHF is advancing at a rate of +0.28% above its opening Thursday, having settled at 0.9235. Mataf.net analysts identify further resistive measures for the pair at 0.9257, onto 0.9329, and 0.9371. On the decline, a break below the 0.9143 handle will initiate supports at 0.9101 and 0.9029.