23 Jul 2013
USD/CHF levelling out 0.9350/70
FXstreet.com (London) - USD/CHF has lost 100 pips since the end of last week sessions.
USD/CHF is trading within the opening hours of the European markets steady and between 0.9350/70. The pair is gradually eroding long positions while US data continues to disappoint overall. Today we have US House Price Approvals in the afternoon that will be closely monitored while nothing is scheduled for the Frank this week.
USD/CHF a bearish bias
USD/CHF has moved to the downside and through the 200d ma at 0.9360 while capped by the 55-day ma at 0.9477. Targets to the downside in a soft dollar environment eye up the 0.9269/78.6% retracement and 0.9130 June lows. The bulls eye March highs 0.9565/70 area as a target before thinking about putting the July highs 0.9753 back onto the map.
USD/CHF is trading within the opening hours of the European markets steady and between 0.9350/70. The pair is gradually eroding long positions while US data continues to disappoint overall. Today we have US House Price Approvals in the afternoon that will be closely monitored while nothing is scheduled for the Frank this week.
USD/CHF a bearish bias
USD/CHF has moved to the downside and through the 200d ma at 0.9360 while capped by the 55-day ma at 0.9477. Targets to the downside in a soft dollar environment eye up the 0.9269/78.6% retracement and 0.9130 June lows. The bulls eye March highs 0.9565/70 area as a target before thinking about putting the July highs 0.9753 back onto the map.