Forex: USD/CHF trading positively at 0.9237/38

The USD/CHF has moved off the 0.9245 handle in recent moments, as the pair eases towards the 0.9237/38 region at the time of writing. Since the publication of earlier ZEW data out of Europe, it has been relatively quiet on the continent Tuesday. At the onset of American trading, the pair is trading positively, up +0.05%.

The USD/CHF stabilized above its linear regression indicators yesterday despite moving to the downside, proving that the bullish move is still valid. Overall, the stochastic offers some negativity however, as the RSI shows weakness of the upside move. Yet since the pair is stable above 0.9130 levels, the possibility of an upside move remains nonetheless.” writes he ICN.com analyst team.

The Mataf.net Technical Analyst Team posits the next resistances at 0.9258, then 0.9282, and finally 0.9306. Should the pair suffer from a prolonged setback, a break below the 0.9210 support will usher in the additional supportive structures at 0.9186 and 0.9162.