11 Nov 2013
USD/CHF aiming for 0.92
FXstreet.com (Chicago) - USD/CHF struggles to stay above the .92 after fall from 0.9233 session highs.
USD/CHF Technical Levels
Price action reveals the pair is on corrective move after short bullish channel that ended around the 0.92 zone. Struggling to stay above the 0.92 front, the pair oscillates between the supports aligned at 0.9181 (November 8th highs), 0.9151 (November 1st highs) followed by 0.9090 (November 4th lows) and the resistances set at 0.9248 (November 7th highs), 0.9283 (September 20th highs) ahead of 0.9350 (September 5th lows). On long-term charts, the primary and secondary trends diverge, with the latter pointing down. The momentum that started last Friday on US data seems to be fading as the pair falls below the EMA20 on hourly charts and struggles to recover the 0.92 front.
USD/CHF Technical Levels
Price action reveals the pair is on corrective move after short bullish channel that ended around the 0.92 zone. Struggling to stay above the 0.92 front, the pair oscillates between the supports aligned at 0.9181 (November 8th highs), 0.9151 (November 1st highs) followed by 0.9090 (November 4th lows) and the resistances set at 0.9248 (November 7th highs), 0.9283 (September 20th highs) ahead of 0.9350 (September 5th lows). On long-term charts, the primary and secondary trends diverge, with the latter pointing down. The momentum that started last Friday on US data seems to be fading as the pair falls below the EMA20 on hourly charts and struggles to recover the 0.92 front.