Forex: USD/CHF calmer at 0.9300 area
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USD/CHF
FXstreet.com (Barcelona) - After falling across the chart from just below 0.9350 to 0.9276 low, the USDCHF bounced back to the 0.9300 psychological level. The market has been standing relatively still since then, surrounding the handle and waiting for some direction provided by triggers such as the US existing home sales, US Richmond Fed manufacturing index, or ECB Draghi's speech at 18:00 GMT.
The Chicago Fed national activity index is already out, down from 0.27 (revised from 0.10) to 0.02 in December. As of writing, the USDCHF is down on the day by -0.25%, at 0.9304.
"Today I think the price may return to the level of 0.9342 and then consolidate for a while between these levels", wrote Roboforex.com analyst Igor Sayadov, pointing to a potential target at 0.9570 if the price breaches 0.9385. "But if it falls down lower than 0.9300, the pair may fall down towards the level of 0.9150", he added.
The Chicago Fed national activity index is already out, down from 0.27 (revised from 0.10) to 0.02 in December. As of writing, the USDCHF is down on the day by -0.25%, at 0.9304.
"Today I think the price may return to the level of 0.9342 and then consolidate for a while between these levels", wrote Roboforex.com analyst Igor Sayadov, pointing to a potential target at 0.9570 if the price breaches 0.9385. "But if it falls down lower than 0.9300, the pair may fall down towards the level of 0.9150", he added.
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