Forex: USD/CHF falls below 0.9710 and bounces
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - The USDCHF has rallied nearly 8 pips in recent moments, bouncing off its intraday minimum at 0.9710, and trading presently at 0.9720. The pair's 50 hourly SMA has acted as a pseudo-resistance this morning during European trading, keeping the exchange rate entrenched below 0.9750 so far Monday.
With a lack of economic data emanating out of the United States or the Eurozone today, it remains likely that the USDCHF will be driven by rumors or concerns within the EU itself. Greece figures to be the paramount focus in the initial stages of this week, ahead of the meeting that will be held on Wednesday between German Chancellor and the Greek PM, amid rumors of an extension of the terms of the bailout.
The USDCHF is approaching a crossover into positive territory, having pared the majority of its losses today and trading -0.04% below it's opening. Slobodan Drvenica, an analyst at Windsor Brokers Ltd., confirms the next supportive measures at 0.9705, 0.9695, and finally 0.9655. Conversely, the pair's ascent will be controlled by means of resistance at 0.9747, then 0.9771, and ultimately 0.9796.
With a lack of economic data emanating out of the United States or the Eurozone today, it remains likely that the USDCHF will be driven by rumors or concerns within the EU itself. Greece figures to be the paramount focus in the initial stages of this week, ahead of the meeting that will be held on Wednesday between German Chancellor and the Greek PM, amid rumors of an extension of the terms of the bailout.
The USDCHF is approaching a crossover into positive territory, having pared the majority of its losses today and trading -0.04% below it's opening. Slobodan Drvenica, an analyst at Windsor Brokers Ltd., confirms the next supportive measures at 0.9705, 0.9695, and finally 0.9655. Conversely, the pair's ascent will be controlled by means of resistance at 0.9747, then 0.9771, and ultimately 0.9796.
Free Annual Reports
