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12 Aug 2013
USD/CHF rally falters, easing off highs
FXstreet.com (New York) - The USD/CHF foreign exchange rate peaked earlier today at the 0.9286 level (intraday high), ultimately failing to move higher and retest 0.9300, having now instead eased lower during US trading.
USD/CHF strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/CHF has managed to find some support at the 0.9177 2013 support line and is attempting to recover ahead of the 0.9130 June low. The market will need to overcome the accelerated resistance line at 0.9265 in order to alleviate immediate downside pressure.”
USD/CHF technical levels
The USD/CHF is has now pulled back to the 0.9276 level in these moments, though it is still securing a healthy advance of +0.34% above its opening. Technically speaking, the USD/CHF faces resistances at 0.9281 (previous resistances at 0.9242 and 0.9255 were broken).
USD/CHF strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/CHF has managed to find some support at the 0.9177 2013 support line and is attempting to recover ahead of the 0.9130 June low. The market will need to overcome the accelerated resistance line at 0.9265 in order to alleviate immediate downside pressure.”
USD/CHF technical levels
The USD/CHF is has now pulled back to the 0.9276 level in these moments, though it is still securing a healthy advance of +0.34% above its opening. Technically speaking, the USD/CHF faces resistances at 0.9281 (previous resistances at 0.9242 and 0.9255 were broken).