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19 Jun 2013
USD/CHF clinging to 0.9200 region
FXstreet.com (New York) - The USD/CHF foreign exchange rate remained situated at the 0.9200 barrier on the heels of German bond auction Wednesday, as the pair meekly remains positive.
In Germany, a 10-year Bond auction witnessed results of 1.55%, which climbed from +1.41% previously.
At the time of writing, the USD/CHF is still nestled 0.9204, up a modest +0.4% during European trading. Given the narrow consolidation, Mataf.net analysts point to the next level of resistive correction for the USD/CHF at 0.9251, then 0.9300, and 0.9338. Meanwhile, support lies below at 0.9164, onto 0.9126, and 0.9077.
USD/CHF extension of bearish move favored
According to the Technical Analyst Team at ICN.com, “The USD/CHF consolidated below 0.9210 levels and bottom C of the AB=CD bearish harmonic Pattern. Based on the technical harmonic analysis, stability below 0.9210 favors the extension of the bearish move.”
In Germany, a 10-year Bond auction witnessed results of 1.55%, which climbed from +1.41% previously.
At the time of writing, the USD/CHF is still nestled 0.9204, up a modest +0.4% during European trading. Given the narrow consolidation, Mataf.net analysts point to the next level of resistive correction for the USD/CHF at 0.9251, then 0.9300, and 0.9338. Meanwhile, support lies below at 0.9164, onto 0.9126, and 0.9077.
USD/CHF extension of bearish move favored
According to the Technical Analyst Team at ICN.com, “The USD/CHF consolidated below 0.9210 levels and bottom C of the AB=CD bearish harmonic Pattern. Based on the technical harmonic analysis, stability below 0.9210 favors the extension of the bearish move.”