Thursday, August 20, 2009

USD/CHF fresh intra week low

Thu, Aug 20 2009, 19:55 GMT (Buenos Aires) – USD/CHF continues pushing lower and the pair printed a fresh week low just under previous one at 1.0617, and continues hovering around that zone. American indexes extend the rise pushing dollar down across the board.

The pair has been ranging between 1.0550/1.1000 since early June, and despite risk appetite return, is not expected to break to the downside. Close to the floor of the range however, downside acceleration could send the pair to the lows 1.0400 before SNB becomes to worry.

Short term supports lie at 1.0610, followed by 1.0580 1.0550 and then 1.0520. To the upside, resistances are at 1.0650 1.0680 and then 1.0720.

USD/CHF (Aug 21 at 05:05 GMT)

1.0649/53 (0.12%)

H 1.0655 L 1.0617

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Aug 21 at 05:00 (15-minute timeframe)

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