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11 Jun 2013
USD/CHF retesting 0.9300 support/barrier
FXstreet.com (New York) - The USD/CHF technical pair has rebounded sharply off its European lows at 0.9258 Tuesday, having recovered the 0.9300 barrier during US trading.
USD/CHF bullish rebound tabled below 0.9370
According to technical analyst team at ICN.com, “The USD/CHF pair failed to stabilize above the 0.9370 region, minimizing chances for a bullish correction. However, the stochastic is showing intraday overbought signals with stabilizing below 0.9370 levels.
USD/CHF continues paring losses after US data
In terms of economic data in the United States, the NFIB Business Optimism Index (May) was reported at 94.40, against expectations of 93.40. Moreover, the Redbook Index (YoY) (June 2) yielded +2.8%, compared with a figure of +2.9% previously. Finally, the Redbook Index (MoM) (June 2) came in at -0.5%, relative to +0.6% previously.
Amidst this recent recovery attempt, the USD/CHF is still trading negatively at -0.34% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, the USD/CHF will face calculated short-term supports at 0.9297, then 0.9257 and finally 0.9196. Alternatively, resistances will be seen higher at 0.9398, onto 0.9459, and 0.9499.
USD/CHF bullish rebound tabled below 0.9370
According to technical analyst team at ICN.com, “The USD/CHF pair failed to stabilize above the 0.9370 region, minimizing chances for a bullish correction. However, the stochastic is showing intraday overbought signals with stabilizing below 0.9370 levels.
USD/CHF continues paring losses after US data
In terms of economic data in the United States, the NFIB Business Optimism Index (May) was reported at 94.40, against expectations of 93.40. Moreover, the Redbook Index (YoY) (June 2) yielded +2.8%, compared with a figure of +2.9% previously. Finally, the Redbook Index (MoM) (June 2) came in at -0.5%, relative to +0.6% previously.
Amidst this recent recovery attempt, the USD/CHF is still trading negatively at -0.34% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, the USD/CHF will face calculated short-term supports at 0.9297, then 0.9257 and finally 0.9196. Alternatively, resistances will be seen higher at 0.9398, onto 0.9459, and 0.9499.