21 Aug 2013
USD/CHF, world hold on; bulls pulling it off?
FXstreet.com (Chicago) - USD/CHF trades stronger at the opening of the Asian trading session as it takes off from previously violated support at 0.9175 but fails to consolidate above it. The pair had cracked down at the end of the American trading session to trade sideways for hours ahead of the Asian journey.
World on hold?
FOMC minutes weight heavily around the world as market participants wait for 6:00 GMT, time when the release will be available publicly. The US is also releasing housing market data prior to the Fed’s economic assessment.
Beating strongly or beating anxiously?
Price action indicates there is bullish pressure outweighing bears as the pair attempts to rise above 0.918 ahead of FOMC data. Trading at 0.9173, the pair is close to immediate support at 0.9172 (August 8th lows), 0.9151 (February 14th lows) ahead of 0.9132 (June 6th lows) with an upside marking resistances at 0.9190 (August 11th lows), 0.9211 (August 18th lows) followed by 0.9232 (July 31st lows). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis along an EMA20 trading above the current price.
World on hold?
FOMC minutes weight heavily around the world as market participants wait for 6:00 GMT, time when the release will be available publicly. The US is also releasing housing market data prior to the Fed’s economic assessment.
Beating strongly or beating anxiously?
Price action indicates there is bullish pressure outweighing bears as the pair attempts to rise above 0.918 ahead of FOMC data. Trading at 0.9173, the pair is close to immediate support at 0.9172 (August 8th lows), 0.9151 (February 14th lows) ahead of 0.9132 (June 6th lows) with an upside marking resistances at 0.9190 (August 11th lows), 0.9211 (August 18th lows) followed by 0.9232 (July 31st lows). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis along an EMA20 trading above the current price.