23 Jul 2013
USD/CHF eases off 0.9400 barrier
FXstreet.com (New York) - The USD/CHF foreign exchange rate found itself easing below the 0.9400 region/session highs Tuesday, though despite the movement still remains entrenched in positive territory.
In the United States, the Housing Price Index (MoM) grew +0.7% in May, against expectations of +0.8%. Meanwhile, earlier today the Redbook Index (MoM) (July 14) climbed +0.9%, compared with a result of +0.8% previously. Finally, the Redbook Index (YoY) (July 14) was reported at +3.3%, relative to +3.0% previously.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF is clearly moving to the upside but is still limited below 0.9445 levels. Therefore, we will keep our negative expectations pointing out that breaching the referred to level might trigger an intraday bullish wave.”
In light of the recent easing below 0.9400, the USD/CHF is presently trading in the area of 0.9386 in these moments, still clinging to an advance of +0.24% above its opening. Resistive means will trigger if the pair retests 0.9405 (session high), onto 0.9450, and 0.9491, calculates the Mataf.net analyst team.
In the United States, the Housing Price Index (MoM) grew +0.7% in May, against expectations of +0.8%. Meanwhile, earlier today the Redbook Index (MoM) (July 14) climbed +0.9%, compared with a result of +0.8% previously. Finally, the Redbook Index (YoY) (July 14) was reported at +3.3%, relative to +3.0% previously.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF is clearly moving to the upside but is still limited below 0.9445 levels. Therefore, we will keep our negative expectations pointing out that breaching the referred to level might trigger an intraday bullish wave.”
In light of the recent easing below 0.9400, the USD/CHF is presently trading in the area of 0.9386 in these moments, still clinging to an advance of +0.24% above its opening. Resistive means will trigger if the pair retests 0.9405 (session high), onto 0.9450, and 0.9491, calculates the Mataf.net analyst team.