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5 Aug 2013
USD/CHF edging away from 0.9300 handle
FXstreet.com (London) - USD/CHF is over a big figure lower and trading below the 0.9300 handle in European markets.
USD/CHF is facing a lighter calendar for today. The US PMI services, better known as the ISM non-manufacturing index, is expected to rise to 53.0, after 52.2 in June. “The index has not been below the neutral level since December 2009, underlining the sustained recovery in the US”, said the Financial Markets Research at Rabobank International.
USD/CHF levels
The pair is moving towards what appears to be the formation of a new descending channel. Breaking the 0.9265 area would be a purposeful move and would support extending the downside move. This may cancel any oversold signals shown on Stochastic. 20 d ma is 0.9394, 50 d ma is 0.9404 and the 200 d ma is 0.9359. RSI (9) is reading 42.27. Supports are ascending from 0.9176, 0.9226, 0.9253. Spot is currently 0.9286. Resistances are 0.9302, 0.9322, 0.9347, 0.9362 and 0.9395
USD/CHF is facing a lighter calendar for today. The US PMI services, better known as the ISM non-manufacturing index, is expected to rise to 53.0, after 52.2 in June. “The index has not been below the neutral level since December 2009, underlining the sustained recovery in the US”, said the Financial Markets Research at Rabobank International.
USD/CHF levels
The pair is moving towards what appears to be the formation of a new descending channel. Breaking the 0.9265 area would be a purposeful move and would support extending the downside move. This may cancel any oversold signals shown on Stochastic. 20 d ma is 0.9394, 50 d ma is 0.9404 and the 200 d ma is 0.9359. RSI (9) is reading 42.27. Supports are ascending from 0.9176, 0.9226, 0.9253. Spot is currently 0.9286. Resistances are 0.9302, 0.9322, 0.9347, 0.9362 and 0.9395