3 Jul 2013
USD/CHF retesting the 0.9500 level
FXstreet.com (New York) - The USD/CHF foreign exchange rate bounced off session lows in recent minutes (0.9472) to pare a portion of its losses and regain the 0.9500 barrier.
Earlier today in the United States, the Trade Balance came in at $-45.03B in May, missing expectations of $-40.10B. In addition, Initial Jobless Claims (June 29) were reported at 343K, slightly exceeding estimates that called for 345K. Finally, Continuing Jobless Claims (June 22) yielded 2.933M, vs. projections of 2.987M.
USD/CHF bounces off lows
Presently, the USD/CHF technical pair is now trading at just 0.9499, incurring a loss of -0.12% in these moments as it ultimately tests the key 0.9500 region. The Danske Research Team has identified the next supports at 0.9439, then 0.9405, and finally 0.9384. On the ascension, resistances will be encountered at 0.9521, then 0.9541, and eventually 0.9564.
USD/CHF extension of bullish wave likely
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved to the upside and breached 50% correction of CD Leg of the Alternative harmonic Bat Patter – linear regression indicators are positive supporting the extension of the bullish wave. The next target of the pattern resides at 0.9570 which represents 61.8% of the referred to leg.”
Earlier today in the United States, the Trade Balance came in at $-45.03B in May, missing expectations of $-40.10B. In addition, Initial Jobless Claims (June 29) were reported at 343K, slightly exceeding estimates that called for 345K. Finally, Continuing Jobless Claims (June 22) yielded 2.933M, vs. projections of 2.987M.
USD/CHF bounces off lows
Presently, the USD/CHF technical pair is now trading at just 0.9499, incurring a loss of -0.12% in these moments as it ultimately tests the key 0.9500 region. The Danske Research Team has identified the next supports at 0.9439, then 0.9405, and finally 0.9384. On the ascension, resistances will be encountered at 0.9521, then 0.9541, and eventually 0.9564.
USD/CHF extension of bullish wave likely
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved to the upside and breached 50% correction of CD Leg of the Alternative harmonic Bat Patter – linear regression indicators are positive supporting the extension of the bullish wave. The next target of the pattern resides at 0.9570 which represents 61.8% of the referred to leg.”