Forex: USD/CHF held by 0.9310 after US confidence
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - After a daily high printed at 0.9389 during Asian time, the USDCHF dropped below 0.9380 area during the European session, only finding support at 0.9310. However, the bouncing movement became limited below 0.9350, and now that the New York session opens, the market fell again to its lows.
The US Reuters/Michigan Consumer Sentiment preliminary data was released, and while consensus pointed to a rise from 72.9 to 75.0 in January, actual data surprised negatively by falling to 71.3. Support at 0.9310 held the USDCHF, that is currently trading at 0.9320.
It's been reported that the ESM is going to approve the second bank bailout tranche for Spain before the end of January.
"We look for further gains on the topside. Initial upside target is the 0.9434 200 day moving average and then 0.9513/25, the 50% retracement and November high"; wrote Commerzbank analyst Karen Jones, suspecting a basing market over the longer term.
The US Reuters/Michigan Consumer Sentiment preliminary data was released, and while consensus pointed to a rise from 72.9 to 75.0 in January, actual data surprised negatively by falling to 71.3. Support at 0.9310 held the USDCHF, that is currently trading at 0.9320.
It's been reported that the ESM is going to approve the second bank bailout tranche for Spain before the end of January.
"We look for further gains on the topside. Initial upside target is the 0.9434 200 day moving average and then 0.9513/25, the 50% retracement and November high"; wrote Commerzbank analyst Karen Jones, suspecting a basing market over the longer term.
Free Annual Reports
