18 Jul 2013
USD/CHF tailing off
FXstreet.com (Barcelona) - USD/CHF is tailing off from a peak at 0.9653 after Switzerland’s Trade Balance surprised to the upside at 2,732m vrs consensus 2,410M.
USD/CHF may hold at 0.9420 support ahead of 0.9400 in the absence of anything more significant to be released until this afternoon. This afternoon we will see US data Philly Fed and Initial Jobless Claims. We also have day two of Bernanke’s testimony as he presents to the Senate following his House appearance yesterday.
USD/CHF feeling the downside
Karen Jones, Chief Analyst at Commerzbank said USD/CHF has sold off towards and is showing signs of recovery from the 200 day ma at 0.9358. “Rallies will need to regain the 0.9568 March high in order to alleviate immediate downside pressure and retarget the 0.9753 July high”. She said any erosion of the 0.9358 200 day ma would provoke another step down to the 0.9269/78.6% retracement. “This is seen as the last defence for the 0.9130 June low”.
USD/CHF may hold at 0.9420 support ahead of 0.9400 in the absence of anything more significant to be released until this afternoon. This afternoon we will see US data Philly Fed and Initial Jobless Claims. We also have day two of Bernanke’s testimony as he presents to the Senate following his House appearance yesterday.
USD/CHF feeling the downside
Karen Jones, Chief Analyst at Commerzbank said USD/CHF has sold off towards and is showing signs of recovery from the 200 day ma at 0.9358. “Rallies will need to regain the 0.9568 March high in order to alleviate immediate downside pressure and retarget the 0.9753 July high”. She said any erosion of the 0.9358 200 day ma would provoke another step down to the 0.9269/78.6% retracement. “This is seen as the last defence for the 0.9130 June low”.