19 Sep 2013
USD/CHF slightly lower at 0.9119 ahead of big data; ultimate dowside may be 0.9073
FXstreet.com (Barcelona) - The global shockwave started by Bernanke and friends carried the USD/CHF lower Wednesday afternoon. Traders and analysts cannot rest on their laurels or count their winnings for very long, though.
USD/CHF to be pushed around by Swiss and US data
USD/CHF bears enjoyed the big down day Wednesday primarily as a result of weakness in the greenback. Thursday’s trading will likely be driven by news / data from both countries, though.
Traders will get to get to digest Swiss Trade Balance data and US data including US Weekly Jobless Claims and existing home sales data as well as the Philly Fed Manufacturing Survey and the Conference Board’s Leading Economic Indicators.
Technical outlook for USD/CHF
Technicians say USD/CHF is most likely going to make its way down to the 0.9021 to 0.9373 range before any substantial support is found. The short-term resistance comes in at 0.9233.
USD/CHF to be pushed around by Swiss and US data
USD/CHF bears enjoyed the big down day Wednesday primarily as a result of weakness in the greenback. Thursday’s trading will likely be driven by news / data from both countries, though.
Traders will get to get to digest Swiss Trade Balance data and US data including US Weekly Jobless Claims and existing home sales data as well as the Philly Fed Manufacturing Survey and the Conference Board’s Leading Economic Indicators.
Technical outlook for USD/CHF
Technicians say USD/CHF is most likely going to make its way down to the 0.9021 to 0.9373 range before any substantial support is found. The short-term resistance comes in at 0.9233.