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25 Jun 2013
USD/CHF pierced 0.9400 on bullish US data
FXstreet.com (London) - USD/CHF is trading at the highs of the day, and briefly attracted offers above 0.9400 after the release of more positive US data.
USD/CHF rose higher after both Consumer Confidence (Jun) and New Home Sales (MoM) (May) at 1400GMT. Consumer Confidence (Jun) came in at 81.4 vrs a consensus of 76.6 and previous 76.2 while New Home Sales (MoM) (May) improved at 0.476mvrs a consensus of 0.460m and previous 0.454m. Earlier, we saw Durable Goods Orders (May) in at 3.6% vrs consensus 1.8% and previous 3.5% Durable Goods Orders ex Transportation (May) came in at 0.7% vrs consensus 0.1% and previous 1.5%.
USD/CHF is correcting higher near term
Karen Jones at Commerzbank said that the market is near term upside corrective, targeting 0.9455. She said for this to be regarded as more than a correction, rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. She said dips should find interim support at 0.9242/0.9176 ahead of 0.9130.
USD/CHF rose higher after both Consumer Confidence (Jun) and New Home Sales (MoM) (May) at 1400GMT. Consumer Confidence (Jun) came in at 81.4 vrs a consensus of 76.6 and previous 76.2 while New Home Sales (MoM) (May) improved at 0.476mvrs a consensus of 0.460m and previous 0.454m. Earlier, we saw Durable Goods Orders (May) in at 3.6% vrs consensus 1.8% and previous 3.5% Durable Goods Orders ex Transportation (May) came in at 0.7% vrs consensus 0.1% and previous 1.5%.
USD/CHF is correcting higher near term
Karen Jones at Commerzbank said that the market is near term upside corrective, targeting 0.9455. She said for this to be regarded as more than a correction, rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. She said dips should find interim support at 0.9242/0.9176 ahead of 0.9130.