Forex: USD/CHF capped by Fibonacci resistance
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - USDCHF has been frustrated in it's efforts to push higher by Fibonacci R2 resistance, causing the pair to range trade through the Europe session so far.
Having posted a low at 0.9304 and a high at 0.9320, USDCHF has had quite a lazy morning, characterised by a soft attempt to move higher to confirm yesterdays high at 0.9324. However, with a dearth of momentum, spot was kept in place by Fibonacci R1 resistance at 0.9322. Spot is currently trading at 0.9310 and is up 0.06% on the day.
Bijoy Kar of MIG Bank notes that USDCHF has hourly resistance at 0.9358 and 0.98392 ahead, with the next key support all the way down at 0.9215. Elsewhere, European stocks and US futures are underwater alongside the majority of commodities and critical European yields.
Having posted a low at 0.9304 and a high at 0.9320, USDCHF has had quite a lazy morning, characterised by a soft attempt to move higher to confirm yesterdays high at 0.9324. However, with a dearth of momentum, spot was kept in place by Fibonacci R1 resistance at 0.9322. Spot is currently trading at 0.9310 and is up 0.06% on the day.
Bijoy Kar of MIG Bank notes that USDCHF has hourly resistance at 0.9358 and 0.98392 ahead, with the next key support all the way down at 0.9215. Elsewhere, European stocks and US futures are underwater alongside the majority of commodities and critical European yields.
Free Annual Reports
