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19 Aug 2013
USD/CHF flirts with grounds breaking 0.9237 support
FXstreet.com (Chicago) - USD/CHF has lost 0.15% so far after continuing retracement from 0.9286 intraday highs. In the afternoon of the US trading journey, the dollar weakens along stock markets recording record lows.
Waiting mode?
The Dow posted its biggest weekly drop in 14 months this morning as market participants wait for FOMC minutes to be released this week in the search for clues that could potentially provide more hints on when the Fed will start its monetary stimulus tapering.
Technical Levels
Price action indicates the greenback is weakening against the Swissy as the pair cracked below immediate support momentarily for the third time in the day. At 0.9239, the pair navigates between supports at 0.9237 (August 5th lows), 0.9214 (August 10th lows) ahead of 0.9190 (August 9th lows) and resistances at 0.9262 (July 28th lows), 0.9286 (August 15th highs) followed by 0.9300 (August 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.
Waiting mode?
The Dow posted its biggest weekly drop in 14 months this morning as market participants wait for FOMC minutes to be released this week in the search for clues that could potentially provide more hints on when the Fed will start its monetary stimulus tapering.
Technical Levels
Price action indicates the greenback is weakening against the Swissy as the pair cracked below immediate support momentarily for the third time in the day. At 0.9239, the pair navigates between supports at 0.9237 (August 5th lows), 0.9214 (August 10th lows) ahead of 0.9190 (August 9th lows) and resistances at 0.9262 (July 28th lows), 0.9286 (August 15th highs) followed by 0.9300 (August 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.