20 Aug 2013
USD/CHF, cracks down at US closing
FXstreet.com (Chicago) - USD/CHF accumulated 0.74% daily losses so far, 0.01% away to reach a 1.0% weekly loss. Prior to the Wall Street market closing, the pair attempted to recover losses partially after falling from 0.9280 zone. Violating immediate support, now resistance at 0.9172 within the last hour, market participants stay expectant of potential data due tomorrow at the FOMC minutes release.
The last hour
The Dow was unable to maintain gains as it dropped within the last trading hour to print 0.05% losses for the day. The Nasdaq was up 0.68% despite giving in ground within the last hour along the S&P500 up 0.38% but with a steep decline towards the end. In Switzerland, the monthly statistical bulletin is expected on Wednesday prior to the publication of the FOMC minutes potentially providing data on Fed’s tapering.
Technical Levels
At 0.9170, the pair trades between supports at 0.9151 (February 13th lows), 0.9132 (June 5th lows) and 0.9100 (January 7th 2012 lows) and resistances at 0.9172 (June 20th lows), 0.9190 (August 10th lows) followed by 0.9211 (August 17th lows). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis.
The last hour
The Dow was unable to maintain gains as it dropped within the last trading hour to print 0.05% losses for the day. The Nasdaq was up 0.68% despite giving in ground within the last hour along the S&P500 up 0.38% but with a steep decline towards the end. In Switzerland, the monthly statistical bulletin is expected on Wednesday prior to the publication of the FOMC minutes potentially providing data on Fed’s tapering.
Technical Levels
At 0.9170, the pair trades between supports at 0.9151 (February 13th lows), 0.9132 (June 5th lows) and 0.9100 (January 7th 2012 lows) and resistances at 0.9172 (June 20th lows), 0.9190 (August 10th lows) followed by 0.9211 (August 17th lows). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis.