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12 Sep 2013
USD/CHF notches fresh daily highs
FXstreet.com (Lisbon) - The USD/CHF foreign exchange rate broke out of a tight consolidation Thursday, inching higher towards fresh highs during European trading.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved lower yesterday affected by the failure to consolidate above 38.2% correction at 0.9380. Stability below this level is considered negative especially as Linear Regression Indicators cover the pair from above. We need a breakout below 0.9290 to confirm the extension of the downside move. In general we depend on trading below the previous set top at 0.9291 at point X to suggest the possible breakout of 23.6% correction to extend bearishness.”
USD/CHF technical levels
At this juncture, the USD/CHF is extending its gains, presently at +0.09%. With the 0.9300 level firmly in tow, the pair is now operating at 0.9315 during European trading. Technically speaking, the USD/CHF will encounter resistance at 0.9347, onto 0.9370, and 0.9395, notes the Danske Research Team.
USD/CHF strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/CHF moved lower yesterday affected by the failure to consolidate above 38.2% correction at 0.9380. Stability below this level is considered negative especially as Linear Regression Indicators cover the pair from above. We need a breakout below 0.9290 to confirm the extension of the downside move. In general we depend on trading below the previous set top at 0.9291 at point X to suggest the possible breakout of 23.6% correction to extend bearishness.”
USD/CHF technical levels
At this juncture, the USD/CHF is extending its gains, presently at +0.09%. With the 0.9300 level firmly in tow, the pair is now operating at 0.9315 during European trading. Technically speaking, the USD/CHF will encounter resistance at 0.9347, onto 0.9370, and 0.9395, notes the Danske Research Team.