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7 Oct 2013
USD/CHF stalled around all-year lows below 0.9040 zone
FXstreet.com (Chicago) - USD/CHF remains capped below the 0.9050 zone in the afternoon of the American trading shortly after better than expected data was made public in the US.
Data releases
Earlier in Switzerland, the foreign currency exchanges were released (little price action impact assumption) at 432.4B vs. expected 432B. The US just released its consumer credit change results at $13.63B vs. past $10.4B and expected $12B.
USD/CHF Technical Levels
Price action reveals the pair managed to bounce off 0.9015 18-month lows but remains stalled below 0.9040 after dive to all-year lows. Primary and secondary trends are pointing down while the intra-day short term trend seems to pull off bullish sparks. Offered at 0.9037, the pair navigates between supports aligned at 0.8994 (October 1st lows), 0.8967 (October 3rd lows) ahead of 0.8933 (February 27th 2012 lows) and the resistances set at 0.9080 (October 4th highs), 0.9137 (September 24th highs) followed by 0.9171 (August 27th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis below the EMA20.
Data releases
Earlier in Switzerland, the foreign currency exchanges were released (little price action impact assumption) at 432.4B vs. expected 432B. The US just released its consumer credit change results at $13.63B vs. past $10.4B and expected $12B.
USD/CHF Technical Levels
Price action reveals the pair managed to bounce off 0.9015 18-month lows but remains stalled below 0.9040 after dive to all-year lows. Primary and secondary trends are pointing down while the intra-day short term trend seems to pull off bullish sparks. Offered at 0.9037, the pair navigates between supports aligned at 0.8994 (October 1st lows), 0.8967 (October 3rd lows) ahead of 0.8933 (February 27th 2012 lows) and the resistances set at 0.9080 (October 4th highs), 0.9137 (September 24th highs) followed by 0.9171 (August 27th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis below the EMA20.