29 Jul 2013
USD/CHF rally caps over 0.9300
FXstreet.com (New York) - The USD/CHF foreign exchange rate has surged higher during the European session, having recently peaked at the 0.9316 level (session high) during US trading.
As such, the USD/CHF has been rebuffed by the aforementioned level, recently easing back to the 0.9309 level in these moments. Briefing the technicals, after breaching the 0.9297 resistance, the pair remains hampered by further means of correction at 0.9221, onto 0.9337, notes the Mataf.net analyst team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF touched 78.6% correction at 0.9265 then rebounded slightly to the upside. Linear Regression Indicators are still negative showing the possibility of extending the overall downside move this week unless levels 0.9370 were breached and the pair stabilized above it. Some bullish correction is likely now affected by the referred to correction at 0.9265, but we will use this correction to sell the pair from appropriate Risk/Reward Ratio.”
As such, the USD/CHF has been rebuffed by the aforementioned level, recently easing back to the 0.9309 level in these moments. Briefing the technicals, after breaching the 0.9297 resistance, the pair remains hampered by further means of correction at 0.9221, onto 0.9337, notes the Mataf.net analyst team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF touched 78.6% correction at 0.9265 then rebounded slightly to the upside. Linear Regression Indicators are still negative showing the possibility of extending the overall downside move this week unless levels 0.9370 were breached and the pair stabilized above it. Some bullish correction is likely now affected by the referred to correction at 0.9265, but we will use this correction to sell the pair from appropriate Risk/Reward Ratio.”