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12 Sep 2013
USD/CHF chugga chugga choo choo, steams to session highs
FXstreet.com (Lisbon) - The USD/CHF foreign exchange rate has broken higher during US trading, following the release of a tranche of US data, sending the USD higher.
In the United States, Initial Jobless Claims (September 6) were reported at 292K, beating estimates calling for 330K. In addition, Continuing Jobless Claims (August 30) yielded a figure of 2.871M, besting projections of 2.960M.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “Despite stability above 23.6% correction, the USD/CHF still did not move significantly higher as it failed to hold above Linear Regression Indicator 34. We still see chances valid for the downside move which require the breakout below 0.9290. On the upside, a breach of 0.9380 will make us favor the upside move and without it our bearish expectations remains valid.”
USD/CHF technical levels
The USD/CHF has presently established fresh highs Thursday afternoon, with the 0.9300 level firmly insulated below. In these moments, the pair is operating at 0.9328, en route to a gain of +0.20% above its opening. In terms of the technical levels, the USD/CHF remains capped by resistances in the short-term at 0.9347, onto 0.9370, notes the Danske Research team.
In the United States, Initial Jobless Claims (September 6) were reported at 292K, beating estimates calling for 330K. In addition, Continuing Jobless Claims (August 30) yielded a figure of 2.871M, besting projections of 2.960M.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “Despite stability above 23.6% correction, the USD/CHF still did not move significantly higher as it failed to hold above Linear Regression Indicator 34. We still see chances valid for the downside move which require the breakout below 0.9290. On the upside, a breach of 0.9380 will make us favor the upside move and without it our bearish expectations remains valid.”
USD/CHF technical levels
The USD/CHF has presently established fresh highs Thursday afternoon, with the 0.9300 level firmly insulated below. In these moments, the pair is operating at 0.9328, en route to a gain of +0.20% above its opening. In terms of the technical levels, the USD/CHF remains capped by resistances in the short-term at 0.9347, onto 0.9370, notes the Danske Research team.