Forex: USD/CHF: Upbeat US Unemployment Claims triggers longs

on Sep 12, 2013
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_iNVEZZ.com September Thursday 12th_: The USD/CHF yesterday moved within the range 0.9370 to 0.9283. The pair ended up losing 0.47 percent with the daily candle having opened at 0.9347 and closing at the 0.9300 psychological level. The price dropped after encountering strong resistance at the 89- and 200-day simple moving averages, a development assisted by the MACD (9,12,1) divergence on the hourly chart.

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Today the pair moved within the narrow 23-pip range of 0.9292 to 0.9315 until 13.30 BST, when US Unemployment Claims came out showing that first-time applicants for unemployment insurance last week numbered 292,000, well under the expected 330,000 and the prior week’s 323,000. The positive news pushed the pair sharply upwards to 0.9334, an ongoing intraday high and just south of today’s second resistance level. The price almost hit the descending 89-hour simple moving average, which is currently staying at 0.9335 and may yet act as a resistance.

Right now the USD/CHF is changing hands at 0.9320, back at the first resistance for today.

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Forex: Afternoon update: UK unemployment drops to 7.7 percent Forex: USD/CHF rejected from 0.9370 resistance

BUY or SELL
http://nvz.bz/15MMznq
Today’s about-face happened at the 50 percent Fibonacci retracement level of 0.9146 to 0.9454 at 0.93000, territory which has been supporting the quote since yesterday.

The daily stochastic yesterday entered and today exited the oversold zone below the 20-line, movements which may send the price further north.
Resistances today: 0.9320, 0.9335 and 0.9370.
Supports: 0.9295, 0.9270 and 0.9220.
!fm[](/uploads/story/5434/usdchfdaily_1209.png)

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Forex: Afternoon update: UK unemployment drops to 7.7 percent Forex: USD/CHF rejected from 0.9370 resistance

BUY or SELL
http://nvz.bz/15MMznq

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