Forex: USD/CHF at Friday's lows ahead of US GDP Q3
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USD/CHF
FXstreet.com (Barcelona) - The market is resuming its newly boosted sentiment triggered by yesterday's remarks by Republican House of Rep speaker Boehner about the US "fiscal cliff" and Jon Hilsenrath's suggestion that the Fed is likely to extend QE to include Treasury purchases when Operation Twist expires in December. Also, the risk appetite comes ahead of the US GDP in Q3 that will be released at 13:30 GMT. Analysts have been expecting a substantial upward revision, from a preliminary estimate of 2.0% Q/Q annualized to a second reading of 2.8% for Q3.
The USDCHF is definetely far away from the 0.9300 level as is continues falling throughout the day, currently at 0.9265 lows, same lows printed last Friday.
"We favor further recovery - we consider that the market has based recently just ahead of the 0.9215 October low", wrote Commerzbank analyst Karen Jones, pointing to initial resistance from the 55 and 200 day moving averages at 0.9353 and 0.9415.
The USDCHF is definetely far away from the 0.9300 level as is continues falling throughout the day, currently at 0.9265 lows, same lows printed last Friday.
"We favor further recovery - we consider that the market has based recently just ahead of the 0.9215 October low", wrote Commerzbank analyst Karen Jones, pointing to initial resistance from the 55 and 200 day moving averages at 0.9353 and 0.9415.
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