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17 Jul 2013
USD/CHF bottoms out at support
FXstreet.com (New York) - The USD/CHF foreign exchange rate has been facing staunch headwinds Wednesday, experiencing a notable decline throughout the earlier sessions, that bottomed out recently at 0.9358 (intraday low).
Presently, the USD/CHF is now navigating the area of 0.9372, and though having recovered off its lows, is still incurring a fall of -0.21% off its opening during US trading. The Mataf.net analyst team points to supports at 0.9360 (session low), ahead of 0.9310, and finally 0.9242.
In the United States, Housing Starts (MoM) were reported at 0.836M in June, missing estimates of 0.960M. Moreover, Building Permits (MoM) also came in at 0.911M in June, failing to meet expectations of 1.000M.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF is trading slightly to the downside and is affected by the technical continuous formation that helped the pair break the 0.9440 level. Trading below the referred to level is negative, though the pair has break 0.9370 levels for the downside move to extend.”
Presently, the USD/CHF is now navigating the area of 0.9372, and though having recovered off its lows, is still incurring a fall of -0.21% off its opening during US trading. The Mataf.net analyst team points to supports at 0.9360 (session low), ahead of 0.9310, and finally 0.9242.
In the United States, Housing Starts (MoM) were reported at 0.836M in June, missing estimates of 0.960M. Moreover, Building Permits (MoM) also came in at 0.911M in June, failing to meet expectations of 1.000M.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF is trading slightly to the downside and is affected by the technical continuous formation that helped the pair break the 0.9440 level. Trading below the referred to level is negative, though the pair has break 0.9370 levels for the downside move to extend.”