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17 Jun 2013
USD/CHF is trading above the pivot on the London open
FXstreet.com (London) - USD/CHF is trading above the pivot on the London open
USD/CHF in tighter ranges
USD/CHF found a tighter range to trade in over the course of Thursday an Friday during a session of mixed US data and after printing a monthly low. The data came without any surprises either way and the pair was reluctant to break off in one particular path. The week ahead however comes with the FOMC which could give us some direction.
USD/CHF rallies expected
Karen Jones, Senior Analysts at Commerzbank said USD/CHF made a four month low at 0.9130 on Thursday but failed again to close below the Fibonacci support at 0 .9197. “We suspect that a near term rebound will be seen towards 0.9297 then 0.9400.” She said that rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. She notes that further resistance can be seen around the 0.9247 May low and then along the 200 day moving average at 0.9348.“Below 0.9130 will put the 2013 low at 0.9023 back on the map, this is key support we look for it to hold”.
USD/CHF in tighter ranges
USD/CHF found a tighter range to trade in over the course of Thursday an Friday during a session of mixed US data and after printing a monthly low. The data came without any surprises either way and the pair was reluctant to break off in one particular path. The week ahead however comes with the FOMC which could give us some direction.
USD/CHF rallies expected
Karen Jones, Senior Analysts at Commerzbank said USD/CHF made a four month low at 0.9130 on Thursday but failed again to close below the Fibonacci support at 0 .9197. “We suspect that a near term rebound will be seen towards 0.9297 then 0.9400.” She said that rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. She notes that further resistance can be seen around the 0.9247 May low and then along the 200 day moving average at 0.9348.“Below 0.9130 will put the 2013 low at 0.9023 back on the map, this is key support we look for it to hold”.