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20 Mar 2013
Forex: USD/CHF falls to 0.9425 support after Fed decision
FXstreet.com (Barcelona) - The USD/CHF has been on the wrong side of trading today, as investors’ optimism was seen permeating the sessions today, following yesterday’s risk-induced sentiment. Following the Fed decision in the United States, the pair has moved towards the 0.9423/25 level.
According to the ICN.com Technical Analyst team, “The USD/CHF dropped below its key support level of the upside move, though remained limited around it linear regression indicator 55. Therefore, we hold on to our positive expectations, however the pair should hold above 0.9495 levels for the negative signals on momentum indicators to be cancelled.”
In the United States, the Fed has decided to hold interest rates at 0.25%, which was precisely in line with expectations.
At this juncture the cross has incurred a loss of -0.53% below its opening level. Mataf.net analysts identify supports at 0.9435, down to the 0.9400 barrier, and finally 0.9368. Regarding a recovery, resistances will activate if the USD/CHF rises to 0.9502, onto of 0.9530, and 0.9569.
According to the ICN.com Technical Analyst team, “The USD/CHF dropped below its key support level of the upside move, though remained limited around it linear regression indicator 55. Therefore, we hold on to our positive expectations, however the pair should hold above 0.9495 levels for the negative signals on momentum indicators to be cancelled.”
In the United States, the Fed has decided to hold interest rates at 0.25%, which was precisely in line with expectations.
At this juncture the cross has incurred a loss of -0.53% below its opening level. Mataf.net analysts identify supports at 0.9435, down to the 0.9400 barrier, and finally 0.9368. Regarding a recovery, resistances will activate if the USD/CHF rises to 0.9502, onto of 0.9530, and 0.9569.