22 Aug 2013
USD/CHF falls to erase most gains
FXstreet.com (Chicago) - USD/CHF erased the majority of its previous gains to now accumulate 0.16% and navigate at 0.9230 zone. The pair reached 0.9284 starting the Asian session after China published manufacturing results indicative of economic expansion.
Unclear enough, plethora of data release
Post FOMC minutes were unclear enough to trigger a knew-jerk price movement shortly after the release but investors weighted data slower and concluded no specific monetary stimulus assessment by the members was provided. In the US, a plethora of data was published. Among highlighted were the initial jobless claims increasing to 336K vs. previous 323K and estimates at 322K. The Markit manufacturing PMI was positive as it increased to 53.9 vs. previous 53.7 results along a CB leading indicator for July that outperformed by small 0.1% difference the estimates at 0.5%.
USD/CHF Technical Levels
Technically speaking, the pair trades at 0.9230 between supports at 0.9232 (July 31st lows), 0.9211 (August 9th highs), 0.9190 (August 19th lows) and resistances at 0.9258 (July 25th lows), 0.9284 (August 17th highs) and 0.9314 (August 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis situated below the EMA20.
Unclear enough, plethora of data release
Post FOMC minutes were unclear enough to trigger a knew-jerk price movement shortly after the release but investors weighted data slower and concluded no specific monetary stimulus assessment by the members was provided. In the US, a plethora of data was published. Among highlighted were the initial jobless claims increasing to 336K vs. previous 323K and estimates at 322K. The Markit manufacturing PMI was positive as it increased to 53.9 vs. previous 53.7 results along a CB leading indicator for July that outperformed by small 0.1% difference the estimates at 0.5%.
USD/CHF Technical Levels
Technically speaking, the pair trades at 0.9230 between supports at 0.9232 (July 31st lows), 0.9211 (August 9th highs), 0.9190 (August 19th lows) and resistances at 0.9258 (July 25th lows), 0.9284 (August 17th highs) and 0.9314 (August 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis situated below the EMA20.