8 Nov 2013
USD/CHF firm above 0.9210 zone; +66 pips
FXstreet.com (Chicago) - USD/CHF sustains rally and consolidates above the 0.92 zone ahead of Wall Street’s closing in a few hours.
Economic results published in the US were better than expected with the NFP bursting the pair to 2-month highs after positive surprises outperforming expectations. In Switzerland, the unemployment rate matched expectations and prior results at 3.2%.
USD/CHF Technical Levels
Price action reveals a strong rally consolidating last October 20th reversal and sending the pair to 2-month highs around the 0.9248 zone. With long-term trends supporting short-term action, a dip below immediate support would be improbable. Although the pair retraces from highs, it manages to maintain the 0.92 front supposing heavy and sustained buying interest. Offered at 0.9216, the pair oscillates between the supports aligned at 0.9181 (October 16th highs), 0.9152 (November 4th highs) followed by 0.9092 (November 4th lows) and the resistances set at 0.9248 (session highs), 0.9283 (September 18th highs) followed by 0.9328 (August 30th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and remains above the EMA20.
Economic results published in the US were better than expected with the NFP bursting the pair to 2-month highs after positive surprises outperforming expectations. In Switzerland, the unemployment rate matched expectations and prior results at 3.2%.
USD/CHF Technical Levels
Price action reveals a strong rally consolidating last October 20th reversal and sending the pair to 2-month highs around the 0.9248 zone. With long-term trends supporting short-term action, a dip below immediate support would be improbable. Although the pair retraces from highs, it manages to maintain the 0.92 front supposing heavy and sustained buying interest. Offered at 0.9216, the pair oscillates between the supports aligned at 0.9181 (October 16th highs), 0.9152 (November 4th highs) followed by 0.9092 (November 4th lows) and the resistances set at 0.9248 (session highs), 0.9283 (September 18th highs) followed by 0.9328 (August 30th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and remains above the EMA20.