27 Jun 2013
USD/CHF continues to rise through 55 day ma
FXstreet.com (London) - USD/CHF has continued to scale up in the European session, rising some 40 pips.
USD/CHF is shrugging off Fed officials comments suggesting the market had over reacted to the more hawkish tones from the FOMC of last week. The pair now awaits to hear what Fed official Powell has to say this afternoon.
USD/CHF wave count to 0.9535
The Elliott wave count was suggesting it could reach 0.9535. Karen Jones at Commerzbank suggests that rallies will need to regain 0.9568 (March high and 61.8% Fibonacci retracement) to alleviate immediate downside pressure and this is now looking more likely but dips should find interim support at 0.9242/.9176 ahead of .9130.
USD/CHF is shrugging off Fed officials comments suggesting the market had over reacted to the more hawkish tones from the FOMC of last week. The pair now awaits to hear what Fed official Powell has to say this afternoon.
USD/CHF wave count to 0.9535
The Elliott wave count was suggesting it could reach 0.9535. Karen Jones at Commerzbank suggests that rallies will need to regain 0.9568 (March high and 61.8% Fibonacci retracement) to alleviate immediate downside pressure and this is now looking more likely but dips should find interim support at 0.9242/.9176 ahead of .9130.