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12 Jun 2013
USD/CHF climbing to challenge 0.9280
FXstreet.com (London) - The USD/CHF has recovered from the lows of yesterday, 0.9222, to steadily drift along to reach resistance in today’s European session.
USD/CHF taking the brunt
It was a terrible session for USD/CHF yesterday in the broader based dollar sell following the USD/EM blow out. Once again Corporations and Real Money demand appeared in the market sub 0.9250, while intra-day traders leaning against the 0.9200 level.
Technically, USD/CHF indicators continue to point to the downside
Teams at ICN.com said that they would consider the pair’s movement to the downside starting from top at 0.9838 levels as the AB=CD bearish harmonic Pattern to see the pair consolidating below 88.6% correction of CD Leg, and below the harmonic support connecting between bottom A and C which is negative and might push the pair further to the downside. It is significant to break 0.9205 levels to give the pair more momentum, and negative Linear Regression Indicators supports their outlook. They added that the trading range for today is among key support at 0.9125
USD/CHF taking the brunt
It was a terrible session for USD/CHF yesterday in the broader based dollar sell following the USD/EM blow out. Once again Corporations and Real Money demand appeared in the market sub 0.9250, while intra-day traders leaning against the 0.9200 level.
Technically, USD/CHF indicators continue to point to the downside
Teams at ICN.com said that they would consider the pair’s movement to the downside starting from top at 0.9838 levels as the AB=CD bearish harmonic Pattern to see the pair consolidating below 88.6% correction of CD Leg, and below the harmonic support connecting between bottom A and C which is negative and might push the pair further to the downside. It is significant to break 0.9205 levels to give the pair more momentum, and negative Linear Regression Indicators supports their outlook. They added that the trading range for today is among key support at 0.9125