2 Sep 2013
USD/CHF trendless above 0.9340
FXstreet.com (Chicago) - USD/CHF peaked at the opening of the American trading session to accumulate 0.36% so far. The pair extended bullish momentum triggered by market participants’ reaction to the cooling off of the Syrian conflict and underperforming Swiss data.
Weaker Swissy, Syrian conflict cooling down
At 54.6, the SVME – purchasing manager’s index for August failed to meet 55.9 expectations and beat past results at 57.4. The pair was fueled to 0.9337 session highs in Asia and extended bullish momentum throughout the journey. In the US, although the markets were closed opinions on Obama’s decision to appeal to the Congress before the military strike against Asia takes place made headlines. German officials stated the G20 summit starting this Thursday will include Syria in its agenda. NATO chief Anfers Fogh Rasmussen stated it was a “dangerous signal to dictators” not to act on chemical weapons attack perpetuated a few weeks ago against civilians in the Middle Eastern country.
USD/CHF Technical Levels
At 0.9344, the pair oscillates between supports at 0.9321 (August 29th highs), 0.9286 (August 30th lows) ahead of 0.9262 (August 23rd highs) and resistances at 0.9348 (session highs), 0.9377 (August 14th highs) followed by 0.9395 (August 15th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis and is offered above the EMA20.
Weaker Swissy, Syrian conflict cooling down
At 54.6, the SVME – purchasing manager’s index for August failed to meet 55.9 expectations and beat past results at 57.4. The pair was fueled to 0.9337 session highs in Asia and extended bullish momentum throughout the journey. In the US, although the markets were closed opinions on Obama’s decision to appeal to the Congress before the military strike against Asia takes place made headlines. German officials stated the G20 summit starting this Thursday will include Syria in its agenda. NATO chief Anfers Fogh Rasmussen stated it was a “dangerous signal to dictators” not to act on chemical weapons attack perpetuated a few weeks ago against civilians in the Middle Eastern country.
USD/CHF Technical Levels
At 0.9344, the pair oscillates between supports at 0.9321 (August 29th highs), 0.9286 (August 30th lows) ahead of 0.9262 (August 23rd highs) and resistances at 0.9348 (session highs), 0.9377 (August 14th highs) followed by 0.9395 (August 15th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis and is offered above the EMA20.