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14 Aug 2013
USD/CHF, soft claws for small punches as pair retraces
FXstreet.com (Chicago) - USD/CHF is unable to muster further gains as it trades flat within the past hour despite 0.30% earlier advancements.
Earlier published data indicated weaker than expected results with a producer price index at 2.1% vs. projected 2.4% for the month of July in the US. In Switzerland, producer and import prices (YoY) increased 0.5% to outbeat expected 0.4%.
Price action indicates the pair has stalled between supports at 0.9330 (June 19th highs), 0.9317 (June 25th lows) ahead of 0.9301 (June 26th highs) and resistances at 0.9360 (July 17th lows), 0.9376 (July 16th lows) followed by 0.9395 (July 14th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis as market participants remain expectant to Fed’s public announcements.
Earlier published data indicated weaker than expected results with a producer price index at 2.1% vs. projected 2.4% for the month of July in the US. In Switzerland, producer and import prices (YoY) increased 0.5% to outbeat expected 0.4%.
Price action indicates the pair has stalled between supports at 0.9330 (June 19th highs), 0.9317 (June 25th lows) ahead of 0.9301 (June 26th highs) and resistances at 0.9360 (July 17th lows), 0.9376 (July 16th lows) followed by 0.9395 (July 14th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis as market participants remain expectant to Fed’s public announcements.