23 Sep 2013
USD/CHF surfing flat waves around 0.91
FXstreet.com (Chicago) - USD/CHF continues trading range in the afternoon of the American trading session, unable to catch bullish moves despite attempts. After bouncing off 0.9083 lows, the pair managed to jump higher back above the 0.91 zone.
Speeches and results
The Swiss National Bank Chairman recalled the importance of the KOF Swiss Economic Institute on its 75th year anniversary in earlier declarations while market participants digested weaker than expected manufacturing results in the US.
USD/CHF Technical Levels
Price action reveals the extension of a sideways channel after last Wednesday’s FOMC and Fed day, fall from the 0.93 zone. With primary and secondary trends, the pair registers lows at 0.9083 and highs at 0.9131 and is now offered at 0.9108 oscillating between supports aligned at 0.9091 (December 31st 2012 lows), 0.9058 (February 7th lows) followed by 0.9019 (January 30th lows) and resistances set at 0.9126 (June 10th lows), 0.9168 (August 17th lows) ahead of 0.9217 (September 13th lows). On one-hour timeframe analysis, the pair is reported as strongly bearish by the FXstreet.com trend index right below the EMA20.
Speeches and results
The Swiss National Bank Chairman recalled the importance of the KOF Swiss Economic Institute on its 75th year anniversary in earlier declarations while market participants digested weaker than expected manufacturing results in the US.
USD/CHF Technical Levels
Price action reveals the extension of a sideways channel after last Wednesday’s FOMC and Fed day, fall from the 0.93 zone. With primary and secondary trends, the pair registers lows at 0.9083 and highs at 0.9131 and is now offered at 0.9108 oscillating between supports aligned at 0.9091 (December 31st 2012 lows), 0.9058 (February 7th lows) followed by 0.9019 (January 30th lows) and resistances set at 0.9126 (June 10th lows), 0.9168 (August 17th lows) ahead of 0.9217 (September 13th lows). On one-hour timeframe analysis, the pair is reported as strongly bearish by the FXstreet.com trend index right below the EMA20.