{"id":62603,"date":"2014-10-27T14:31:39","date_gmt":"2014-10-27T18:31:39","guid":{"rendered":"http:\/\/countingpips.com\/?p=62603"},"modified":"2014-10-27T14:46:04","modified_gmt":"2014-10-27T18:46:04","slug":"usdchf-tests-critical-support-following-soft-us-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/usdchf-tests-critical-support-following-soft-us-data\/","title":{"rendered":"USD\/CHF Tests Critical Support Following Soft US Data"},"content":{"rendered":"<div id=\"inves-3912368357\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 27, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>USD\/CHF re-tested critical support confluence on disappointing Services PMI (3) and Pending Home Sales (0.3%);<\/li>\n<li>Bounce is expected towards 0.9600 in order to preserve bullish bias;<\/li>\n<li>Core Durable Goods Orders m\/m and CB Consumer Confidence are due to be released on Tuesday, both with bullish expectations;<\/li>\n<\/ul>\n<p><em>The U.S. Dollar traded lower against most counterparts on Monday due to easing growth in the service sector and a smaller than expected rise in Pending Home Sales. Sellers pushed the pair down to a critical support however rallies are expected to resume on Tuesday.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>USD\/CHF spot is trading at 0.9485 during the second half of the 27<sup>th<\/sup>\/10 U.S. session. Price dipped as low as 0.9475 earlier, testing a confluence formed around 50 and 200 Simple Moving Averages on 4H timeframe coupled with a strong pivot zone formed throughout October.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/USDCHF27thOctober.png\" alt=\"USDCHF27thOctober\" \/><\/p>\n<p>From a swing configuration perspective, a Higher Low is expected to form around current levels due to 23<sup>rd<\/sup> October Higher High. For now USD\/CHF remains in bullish territory and a recovery is expected towards 0.9590 \u2013 0.9600 this week, as long as pending U.S. data will be able to boost the greenback. If we\u2019re counting on a complete uptrend return, targets of 0.9685 and above are also very likely.<\/p><div id=\"inves-648973444\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>A break below 0.9465\/75 followed by price stabilizing in bearish territory could pose problems for USD\/CHF\u2019s recent bullish intentions. If this is the case, 0.9400 (support, downtrend-channel resistance and 50-Day Moving Average) could be re-tested, opening the door for sellers to potentially attack lower levels in November.<\/p>\n<p>*********<br \/>\nPrepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways USD\/CHF re-tested critical support confluence on disappointing Services PMI (3) and Pending Home Sales (0.3%); Bounce is expected towards 0.9600 in order to preserve bullish bias; Core Durable Goods Orders m\/m and CB Consumer Confidence are due to be released on Tuesday, both with bullish expectations; The U.S. Dollar traded [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62603","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62603"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62603\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}