USD/CHF, breaks through resistance; it is a comeback?

FXstreet.com (Chicago) – USD/CHF plunged on US home sales data released earlier today as expectations were not matched. The pair fell below 0.92 zone to quickly reverse in the afternoon of the American trading session.

Under-performing market

New home sales data fell to 0.394M vs. expected 0.485M and previous 0.455M translating into -13.4% change (MoM) for the month of July vs. estimates at -1.4%. The Jackson Hole Symposium remains at the center of attention as market participants aspire to find potential hints leading to a better understanding of Fed’s decision on tapering the US monetary stimulus package next month.

USD/CHF Technical Levels

Technically …read more