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24 Jun 2013
USD/CHF finds offers in London
FXstreet.com (London) - USD/CHF is printing a High of 0.9383 and a Low of 0.9349 at time of writing.
While heavy bids were attracted on higher US yields, the pair have been capped at resistance 0.9340 and is fairing well in comparison to other G7’s, with the SNB recently sticking to their script. Today, there is nothing scheduled other than second tier data for the US in the afternoon in the form of Chicago Fed National Activity Index (May) and Dallas Fed Manufacturing Business Index (June). Gareth Berry at UBS and said the pair is consolidating to unwind the sharp overextended downside conditions with resistance at 0.9401 and he see’s support at 0.9242 ahead of 0.9130.
USD/CHF looking bullish
Karen Jones, Analyst at Commerzbank, said that they suspect that we will see a move towards 0.9380 then 0.9455. She said that for this to be regarded as more than a correction, rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure.
While heavy bids were attracted on higher US yields, the pair have been capped at resistance 0.9340 and is fairing well in comparison to other G7’s, with the SNB recently sticking to their script. Today, there is nothing scheduled other than second tier data for the US in the afternoon in the form of Chicago Fed National Activity Index (May) and Dallas Fed Manufacturing Business Index (June). Gareth Berry at UBS and said the pair is consolidating to unwind the sharp overextended downside conditions with resistance at 0.9401 and he see’s support at 0.9242 ahead of 0.9130.
USD/CHF looking bullish
Karen Jones, Analyst at Commerzbank, said that they suspect that we will see a move towards 0.9380 then 0.9455. She said that for this to be regarded as more than a correction, rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure.