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27 Aug 2013
USD/CHF, on trendless channel; are fears outweighing facts?
FXstreet.com (Chicago) - USD/CHF accumulates 0.55% daily losses so far as impulsive price action reveal tense market participants attempting to hedge risks through capital movement.
Syrian fears outweigh empiric positive results
The greenback reached double top formation earlier in the morning in the American trading session after economic US data was released with an increased consumer confidence vote at 81.5 vs. previous 81.0 and estimates at 80.3 and better-than-expected S&P/Case-Shiller Home Price Indices for the month of June (YoY) at 12.1% vs. previous 12.2% and projections at 12.0%.
USD/CHF Technical Levels
Price action reveals sideways trading within the past couple of hours and the pair finds grounds at 0.9179 between supports at 0.9173 (June 20th lows), 0.9151 (August 20th lows) ahead of 0.9128 (June 12th lows) and resistances at 0.9190 (August 8th lows), 0.9211 (August 15th lows) followed by 0.9232 (July 31st lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.
Syrian fears outweigh empiric positive results
The greenback reached double top formation earlier in the morning in the American trading session after economic US data was released with an increased consumer confidence vote at 81.5 vs. previous 81.0 and estimates at 80.3 and better-than-expected S&P/Case-Shiller Home Price Indices for the month of June (YoY) at 12.1% vs. previous 12.2% and projections at 12.0%.
USD/CHF Technical Levels
Price action reveals sideways trading within the past couple of hours and the pair finds grounds at 0.9179 between supports at 0.9173 (June 20th lows), 0.9151 (August 20th lows) ahead of 0.9128 (June 12th lows) and resistances at 0.9190 (August 8th lows), 0.9211 (August 15th lows) followed by 0.9232 (July 31st lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.