USD/CHF stable above 0.9200

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FXstreet.com (New York) - The USD/CHF foreign exchange rate has garnered a measure of stability following an earlier plunge below 0.9200 (0.9189 intraday low) Thursday.

In the United States, Initial Jobless Claims (August 3) were reported at 333K, beating expectations of 336K. Moreover, Continuing Jobless Claims (July 27) yielded a figure of 3.018M, relative to a projection of 2.950M.

USD/CHF strategic bias

According to the Technical Analyst Team at ICN.com, "The USD/CHF is carrying many attempts to break below 0.9200 -88.6% correction- which is preventing us from favoring the downside move for now, especially as momentum indicators are trading in oversold areas. We will remain neutral for now observing the mentioned 0.9200 as a four-hour closing confirmation will trigger a sharp downside move."

The USD/CHF is still trading negatively, down -0.06% in these moments, though it has recovered back to 0.9211. Technically speaking, the USD/CHF remains fortified by supports at 0.9199, ahead of 0.9187, and 0.9156, notes the Mataf.net analyst team.