7 Aug 2013
USD/CHF eyes 0.9300
FXstreet.com (Barcelona) - USD/CHF has moved up from the 0.9250 area in the European session to 0.9280 resistance.
There is a relatively light calendar for the pair today and this week. Financial Markets Research Rabobank International said “In Switzerland foreign currencies held by the Swiss National Bank (SNB) increased CHF0.1 billion to CHF434.9 billion in July. The (small) increase is probably not the result of fresh new purchases, but due to the weakening of the Swiss franc as market sentiment improved in July. Due to the easing tensions in the eurozone the SNB needs less efforts to protect the floor at 1.20. Monthly fluctuations are largely the result of gains and losses on the investments it currently holds”.
USD/CHF eyes 0.9300
USD/CHF is edging higher towards the 0.9300 handle with an upside bias in the near term. The 20 dma is 0.9353, with 50 dma at 0.9386 and the 200 dma is 0.9358. RSI (9) reads 37.08. Supports are ascending from 0.9130, 0.9176, 0.9226 and 0.9239. Spot is currently 0.9280and next resistance is 0.9296, then 0.9333 and 0.9395
There is a relatively light calendar for the pair today and this week. Financial Markets Research Rabobank International said “In Switzerland foreign currencies held by the Swiss National Bank (SNB) increased CHF0.1 billion to CHF434.9 billion in July. The (small) increase is probably not the result of fresh new purchases, but due to the weakening of the Swiss franc as market sentiment improved in July. Due to the easing tensions in the eurozone the SNB needs less efforts to protect the floor at 1.20. Monthly fluctuations are largely the result of gains and losses on the investments it currently holds”.
USD/CHF eyes 0.9300
USD/CHF is edging higher towards the 0.9300 handle with an upside bias in the near term. The 20 dma is 0.9353, with 50 dma at 0.9386 and the 200 dma is 0.9358. RSI (9) reads 37.08. Supports are ascending from 0.9130, 0.9176, 0.9226 and 0.9239. Spot is currently 0.9280and next resistance is 0.9296, then 0.9333 and 0.9395