12 Feb 2015
USD/CHF tests highs of 0.9335 again; but rejected
After consolidating levels above 0.9300, the USD/CHF is attacking highs since February 2 at 0.9335. The level has been tested several times in the last two hours but the pair got the same answer: rejection.
The USD/CHF was breaking its negative correlation with the EUR/USD, at least in the short term, as the unique currency was trading higher too. However, the US dollar weakness could be driven by higher oil prices and disappointing US economic data.
The oil WTI is pricing now at $51.00 after breaking above R1 at $51.80 and peaking to a daily high of $51.35. On the fundamental desk, US jobless claims rose by 25K to 304K, above expectations. The first above-the-300K figure after 1 month.
US retail sales posted a decline for a second month, -0.8% in January. Worst than expected. However, yearly advance seems healthy, mainly driven by cars.
Currently, USD/CHF is trading at 0.9310, up 0.21% on the day, having posted a daily high at 0.9339 and low at 0.9256. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CHF levels
If the pair manages to break above 0.9335, next frontiers are at 0.9345 and 0.9360. To the downside, supports are at 0.9300, 0.9260 and 0.9240.
The USD/CHF was breaking its negative correlation with the EUR/USD, at least in the short term, as the unique currency was trading higher too. However, the US dollar weakness could be driven by higher oil prices and disappointing US economic data.
The oil WTI is pricing now at $51.00 after breaking above R1 at $51.80 and peaking to a daily high of $51.35. On the fundamental desk, US jobless claims rose by 25K to 304K, above expectations. The first above-the-300K figure after 1 month.
US retail sales posted a decline for a second month, -0.8% in January. Worst than expected. However, yearly advance seems healthy, mainly driven by cars.
Currently, USD/CHF is trading at 0.9310, up 0.21% on the day, having posted a daily high at 0.9339 and low at 0.9256. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CHF levels
If the pair manages to break above 0.9335, next frontiers are at 0.9345 and 0.9360. To the downside, supports are at 0.9300, 0.9260 and 0.9240.