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26 Aug 2013
USD/CHF trading quietly above 0.9133 correction support
FXstreet.com (Barcelona) - Even as the DXY got hammered Friday after the bad US housing data, the USD/CHF cross actually held up fairly well. Still, a test of projected support may be in the offing.
USD/CHF traders will be reacting to US data later on Monday
Traders of USD/CHF will be tuned into the US Durable Goods data at 12:30 GMT and the Dallas Fed Manufacturing Index at 14:30 GMT for the only data-related guidance on Monday. There will be no Swiss data released until Wednesday’s Consumption Indicator and Thursday’s employment levels.
Technical take on USD/CHF
Technicians are saying there may be one more test of 0.9133 “correction support” before a more serious move higher occurs in the USD/CHF. The next downside target below that would be Fibonacci projection at 0.9001. First resistance for USD/CHF comes in at the 8/22 peak of 0.9289.
USD/CHF traders will be reacting to US data later on Monday
Traders of USD/CHF will be tuned into the US Durable Goods data at 12:30 GMT and the Dallas Fed Manufacturing Index at 14:30 GMT for the only data-related guidance on Monday. There will be no Swiss data released until Wednesday’s Consumption Indicator and Thursday’s employment levels.
Technical take on USD/CHF
Technicians are saying there may be one more test of 0.9133 “correction support” before a more serious move higher occurs in the USD/CHF. The next downside target below that would be Fibonacci projection at 0.9001. First resistance for USD/CHF comes in at the 8/22 peak of 0.9289.