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6 Aug 2013
USD/CHF on unstable grounds?
FXstreet.com (Chicago) - USD/CHF bounced off 0.9238 intraday lows at the expectancy of Fed’s possibility to reduce its bond-buying program.
Wall Street closed in red consolidating major bleeding throughout the world as most markets were down on Tuesday. The S&P lost 0.58%, back on Earth below 1,700 levels, the Nasdaq was down 0.74% along with the Dow down 0.61%. Fed’s Evans speech left market participants uncertain about the timing of budgetary stimulus reduction.
On outlook for consumer price indexes in Switzerland and more job market data in the US, price action indicated potential support around 0.9250 regions as it the pair traded at 0.9258, between supports at 0.9238, 0.9215 ahead of 0.9192 and resistances at 0.9305, 0.9328 followed by 0.9352. The FXstreet trend index reported the pair as strongly bearish on one-hour timeframe analysis as MACD and CCI indicators pointed down.
Wall Street closed in red consolidating major bleeding throughout the world as most markets were down on Tuesday. The S&P lost 0.58%, back on Earth below 1,700 levels, the Nasdaq was down 0.74% along with the Dow down 0.61%. Fed’s Evans speech left market participants uncertain about the timing of budgetary stimulus reduction.
On outlook for consumer price indexes in Switzerland and more job market data in the US, price action indicated potential support around 0.9250 regions as it the pair traded at 0.9258, between supports at 0.9238, 0.9215 ahead of 0.9192 and resistances at 0.9305, 0.9328 followed by 0.9352. The FXstreet trend index reported the pair as strongly bearish on one-hour timeframe analysis as MACD and CCI indicators pointed down.