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5 Jun 2013
USD/CHF cannot regain 0.9500 level
FXstreet.com (Barcelona) - The USD/CHF tried to regain the 0.9500 level today but stalled just short at 0.9495 (session highs) earlier during overnight trading.
In these moments, the pair is trading at 0.9477/82, or +0.12% above it’s opening Wednesday. Should the gains continue on course, Mataf.net analysts identify the next short-term resistances at 0.9519, then 0.9553, and finally 0.9586. Meanwhile, support lies below at 0.9452, ahead of 0.9419, and 0.9385.
According to the Technical Analyst Team at ICN.com, “The USD was trading below 0.9470 again and below the second target of the technical harmonic formation. Based on the technical harmonic analysis rules, stability below the second target favors testing the first extended target of the pattern increasing the possibility of extending bearishness to touch levels 0.9370.”
In these moments, the pair is trading at 0.9477/82, or +0.12% above it’s opening Wednesday. Should the gains continue on course, Mataf.net analysts identify the next short-term resistances at 0.9519, then 0.9553, and finally 0.9586. Meanwhile, support lies below at 0.9452, ahead of 0.9419, and 0.9385.
According to the Technical Analyst Team at ICN.com, “The USD was trading below 0.9470 again and below the second target of the technical harmonic formation. Based on the technical harmonic analysis rules, stability below the second target favors testing the first extended target of the pattern increasing the possibility of extending bearishness to touch levels 0.9370.”