Forex: USD/CHF moves off overnight support
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - USDCHF steadily declined throughout yesterday's US session to post a low at 0.9292 before finding overnight support at 0.9300.
Yesterday's three-way Central Bank action saw both the BoE and ECB hold rates before Draghi's Press Conference instilled enough confidence to instigate a move lower for the pair. The decline was further supported by the publishing of the FOMC minutes. USDCHF however was largely unaffected by the overnight BoJ decision to hold rates and largely ranged between 0.9300 and 0.9310 before climbing this morning to currently trade at 0.9317.
Swiss Foreign Currency Reserves have come in at CHF 429.3bln against CHF418.4bln previous. Elsewhere EU GDP is scheduled for 09:00 GMT and German Factory Orders at 10:00 GMT before the headline events of the day in US Non Farm Payrolls and the Unemployment Rate at 12:30 GMT.
Forex Ticket analysts are neutral on the pair and see it ranging between 0.9345 and 0.9270 with further support and resistance to be found at 0.9240 and 0.9390. Elsewhere European stocks have opened higher whilst commodities are painting a mixed picture.
Yesterday's three-way Central Bank action saw both the BoE and ECB hold rates before Draghi's Press Conference instilled enough confidence to instigate a move lower for the pair. The decline was further supported by the publishing of the FOMC minutes. USDCHF however was largely unaffected by the overnight BoJ decision to hold rates and largely ranged between 0.9300 and 0.9310 before climbing this morning to currently trade at 0.9317.
Swiss Foreign Currency Reserves have come in at CHF 429.3bln against CHF418.4bln previous. Elsewhere EU GDP is scheduled for 09:00 GMT and German Factory Orders at 10:00 GMT before the headline events of the day in US Non Farm Payrolls and the Unemployment Rate at 12:30 GMT.
Forex Ticket analysts are neutral on the pair and see it ranging between 0.9345 and 0.9270 with further support and resistance to be found at 0.9240 and 0.9390. Elsewhere European stocks have opened higher whilst commodities are painting a mixed picture.
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