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15 Aug 2013
USD/CHF rally stalls at 0.9400 region
FXstreet.com (New York) - The USD/CHF foreign exchange rate was unable to overtake the 0.9400 region Thursday, instead falling short at 0.9397 (session high) during US trading and easing shortly thereafter.
In the United States, the Consumer Price Index (YoY) came in at +2.0% in July, in line with expectations. Moreover, the Consumer Price Index Ex Food & Energy (YoY) grew +1.7% in July, matching estimates. Initial Jobless Claims were reported at 320K, beating projections of 335K. Finally, Net Long-Term TIC Flows (June) yielded a figure of $-66.9B, against expectations of $31.3B.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved to the upside after touching around support levels 0.9320, as the current upside move might extend. However, the pair has to prove breaching 61.8% correction to confirm this positive outlook. Meanwhile, the stochastic tends to the upside move supporting our expectations, as Linear Regression Indicators are positive also supporting these expectations.”
USD/CHF technical levels
The USD/CHF is has now eased to 0.9376 in these moments, still securing a gain of +0.19% above its opening. Briefing the technicals, the USD/CHF faces resistance at 0.9371, onto 0.9401, and 0.9424, notes the Mataf.net analyst team.
In the United States, the Consumer Price Index (YoY) came in at +2.0% in July, in line with expectations. Moreover, the Consumer Price Index Ex Food & Energy (YoY) grew +1.7% in July, matching estimates. Initial Jobless Claims were reported at 320K, beating projections of 335K. Finally, Net Long-Term TIC Flows (June) yielded a figure of $-66.9B, against expectations of $31.3B.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved to the upside after touching around support levels 0.9320, as the current upside move might extend. However, the pair has to prove breaching 61.8% correction to confirm this positive outlook. Meanwhile, the stochastic tends to the upside move supporting our expectations, as Linear Regression Indicators are positive also supporting these expectations.”
USD/CHF technical levels
The USD/CHF is has now eased to 0.9376 in these moments, still securing a gain of +0.19% above its opening. Briefing the technicals, the USD/CHF faces resistance at 0.9371, onto 0.9401, and 0.9424, notes the Mataf.net analyst team.