Forex: USD/CHF in session lows around 0.9280
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USD/CHF
FXstreet.com (Barcelona) - The benchmark cross for the safe havens is suffering the increasing risk appetite as of writing, printing fresh lows in the vicinity of 0.9280, ahead of the FOMC statement.
In the data front, the ZEW Survey - Expectations for the month of December in Switzerland has improved to -15.5 from -27.9 in the previous print, although these data was utterly ignored by the traders.
In the opinion of analyst I.Spivak at DailyFX, "Prices rebounded from support in the 0.9213-38 region to target the 0.9381-0.9402 area, marked by a range top set from late September and the 23.6% Fibonacci retracement. A break above that targets the underside of a rising trend line set from the October 17 low (0.9465) and the 38.2% level at 0.9503. Alternatively, a drop below support initially aims for the 50% Fib expansion at 0.9133".
At the moment the cross is losing 0.45% at 0.9280 and a drop beyond 0.9243 (low Dec.3) would open the door to 0.9239 (low Oct.19) and finally 0.9215 (low Oct.17).
On the upside, resistance levels are located at 0.9331 (MA21d) ahead of 0.9370 (high Dec.11) and 0.9383 (high Dec.7).
In the data front, the ZEW Survey - Expectations for the month of December in Switzerland has improved to -15.5 from -27.9 in the previous print, although these data was utterly ignored by the traders.
In the opinion of analyst I.Spivak at DailyFX, "Prices rebounded from support in the 0.9213-38 region to target the 0.9381-0.9402 area, marked by a range top set from late September and the 23.6% Fibonacci retracement. A break above that targets the underside of a rising trend line set from the October 17 low (0.9465) and the 38.2% level at 0.9503. Alternatively, a drop below support initially aims for the 50% Fib expansion at 0.9133".
At the moment the cross is losing 0.45% at 0.9280 and a drop beyond 0.9243 (low Dec.3) would open the door to 0.9239 (low Oct.19) and finally 0.9215 (low Oct.17).
On the upside, resistance levels are located at 0.9331 (MA21d) ahead of 0.9370 (high Dec.11) and 0.9383 (high Dec.7).
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