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28 May 2013
USD/CHF held in check by 0.9700 barrier
FXstreet.com (Barcelona) - The USD/CHF has been flirting with stability above the 0.9700 level all day Tuesday, with little luck, despite a brief peak earlier during European trading at 0.9706.
At the time of writing, the pair is operating at 0.9688/89, notching a sterling advance of +0.58% during the US session. The data wires have been extremely thin to start off the week in both Europe and the United States, however at 14:00 GMT the US Consumer Confidence (May) looks to be the marquee release Tuesday, projected at 71.0, against a figure of 68.1 previously.
In terms of the technical levels, the Mataf.net analyst team points to a series of resistances that will stymie any prolonged advance of the USD/CHF at 0.9690, then 0.9719, and ultimately 0.9768. Conversely, any sustained thrust downwards will likely encounter supportive structures at 0.9612, followed by 0.9563, and 0.9534.
At the time of writing, the pair is operating at 0.9688/89, notching a sterling advance of +0.58% during the US session. The data wires have been extremely thin to start off the week in both Europe and the United States, however at 14:00 GMT the US Consumer Confidence (May) looks to be the marquee release Tuesday, projected at 71.0, against a figure of 68.1 previously.
In terms of the technical levels, the Mataf.net analyst team points to a series of resistances that will stymie any prolonged advance of the USD/CHF at 0.9690, then 0.9719, and ultimately 0.9768. Conversely, any sustained thrust downwards will likely encounter supportive structures at 0.9612, followed by 0.9563, and 0.9534.