13 Nov 2013
USD/CHF violates immediate support
FXstreet.com (Chicago) - USD/CHF can’t bear downward pressure and is sent below the 0.9150 zone extending the bearish pressure and hitting weekly lows.
USD/CHF Technical Levels
Price action reveals the pair breaks immediate support ahead of Wall Street’s closing fueled by bearish pressure after the release of the US monthly budget statement. At $-91.6B, expected results were $-104.00B indicating there was an improvement in the economy, disfavoring the USD. Offered at 0.9149, the pair trades below immediate support at 0.9152 (November 12th lows) and is now facing 0.9133 (November 1st highs) along with 0.91 (November 6th lows). On the upside, resistances are aligned at 0.9188 (November 11th lows), 0.9225 (November 12th highs) followed by 0.9248 (November 8th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis navigating below the EMA20.
USD/CHF Technical Levels
Price action reveals the pair breaks immediate support ahead of Wall Street’s closing fueled by bearish pressure after the release of the US monthly budget statement. At $-91.6B, expected results were $-104.00B indicating there was an improvement in the economy, disfavoring the USD. Offered at 0.9149, the pair trades below immediate support at 0.9152 (November 12th lows) and is now facing 0.9133 (November 1st highs) along with 0.91 (November 6th lows). On the upside, resistances are aligned at 0.9188 (November 11th lows), 0.9225 (November 12th highs) followed by 0.9248 (November 8th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis navigating below the EMA20.