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Forex pairs in this Article » EUR/CHF, USD/CHF (Barcelona) - Strong bids in the EURCHF market sent the USDCHF higher by more than 50 pips, back above the 0.9100 mark and reaching as high as 0.9144. The following corrective movement is being held above 0.9120. The USDCHF is approaching its highs again, currently at 0.9130 (+0.50%).

German factory orders were just released, disappointing investors with a wider annualized fall than expected, from -0.9% (revised from -1.0%) to -1.8%, instead of the -1.2% consensus. On the month, orders have risen by +0.8%, not as much as the +0.9% expected.

"Larger picture maintains bearish tone and keeps the downside favored, as long as 0.9300, daily Ichimoku cloud top stays intact", wrote Windsor Brokers analyst Slobodan Drvenica, requiring the clearance of 0.9150/60 (55 day EMA / Fib 38.2% of 0.9387/0.9020) to confirm and open 0.9200 (round figure / 50% retracement).
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