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10 Sep 2013
USD/CHF holding ground above 0.9307 support despite Friday’s bearish candle
FXstreet.com (Barcelona) - The USD/CHF still holding above the support level that determines the bullishness or bearishness of the chart.
USD/CHF to trade on technicals and US/Syria news flow Tuesday
The monthly reads on Swiss unemployment and Swiss retail sales figures came in just about as expected – failing to affect the USD/CHF. The cross instead continued to sell-off and works its way towards 0.9037 support off of the carry-over effects of the poor US jobs numbers on Friday.
Tuesday should see the USD/CHF continue to be driven by the relative strength or weakness in the US Dollar. That will, in turn, be determined by technicals and Syria news.
Technical take on USD/CHF
Technicians say that important support for USD/CHF comes in at the 8/30 close of 0.9298. Resistance comes in at Friday’s high of 0.9455. The real upside target based on Elliott Wave count may be as high as 0.9500.
USD/CHF to trade on technicals and US/Syria news flow Tuesday
The monthly reads on Swiss unemployment and Swiss retail sales figures came in just about as expected – failing to affect the USD/CHF. The cross instead continued to sell-off and works its way towards 0.9037 support off of the carry-over effects of the poor US jobs numbers on Friday.
Tuesday should see the USD/CHF continue to be driven by the relative strength or weakness in the US Dollar. That will, in turn, be determined by technicals and Syria news.
Technical take on USD/CHF
Technicians say that important support for USD/CHF comes in at the 8/30 close of 0.9298. Resistance comes in at Friday’s high of 0.9455. The real upside target based on Elliott Wave count may be as high as 0.9500.