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5 Aug 2013
USD/CHF, when is retracement ending?
FXstreet.com (Chicago) - USD/CHF drifted down close to immediate support after earlier retracement from 0.9331 daily highs.
Despite a better than expected ISM non-manufacturing PMI for the month of July, the dollar continued to decline against the Swissy relentlessly. At 56.0, the index indicated improved conditions as previous results were 52.2 and projections were at 53.0.
Steady decline
Technically speaking, the pair traded at 0.9281, between supports at 0.9278 (July 30 lows), 0.9261 (July 26 lows), 0.9240 (June 20 lows) and resistances at 0.9310 (June 25 lows), 0.9356 (June 19 highs), 0.9412 (July 22 highs). The price was below moving averages for both short and long term along a CCI pointing down for one-hour timeframe analysis.
Despite a better than expected ISM non-manufacturing PMI for the month of July, the dollar continued to decline against the Swissy relentlessly. At 56.0, the index indicated improved conditions as previous results were 52.2 and projections were at 53.0.
Steady decline
Technically speaking, the pair traded at 0.9281, between supports at 0.9278 (July 30 lows), 0.9261 (July 26 lows), 0.9240 (June 20 lows) and resistances at 0.9310 (June 25 lows), 0.9356 (June 19 highs), 0.9412 (July 22 highs). The price was below moving averages for both short and long term along a CCI pointing down for one-hour timeframe analysis.