Forex: USD/CHF tests 0.9225 again on Germany orders
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USD/CHF
FXstreet.com (Barcelona) - The USDCHF is back at its daily highs, still capped by the area surrounding 0.9225, on lower sentiment after the release of Factory Orders data in Germany. The seasonally adjusted data contracted -1.8% (MoM) in November, more than the -1.4% expected. The annualized non-adjusted figure rebounded from -2.5% to -1.0%.
The Eurozone has found improving sentiment indicators in December, an upwards revision in the annualized retail sales figure of October (from -3.6% to -3.2%) and a rising unemployment rate to 11.8% in November, as expected.
"Temporary support was found at 0.9200, also 55 day EMA, however, holding below 0.9230, previous low / Fib 38.2% and hourly 55 day EMA, would keep focus at the downside, with break below 0.9200 to open way for further retracement and expose 0.9180, previous range top and 0.9163, Fib 61.8%", wrote Windsor Brokers analyst Slobodan Drvenica.
The Eurozone has found improving sentiment indicators in December, an upwards revision in the annualized retail sales figure of October (from -3.6% to -3.2%) and a rising unemployment rate to 11.8% in November, as expected.
"Temporary support was found at 0.9200, also 55 day EMA, however, holding below 0.9230, previous low / Fib 38.2% and hourly 55 day EMA, would keep focus at the downside, with break below 0.9200 to open way for further retracement and expose 0.9180, previous range top and 0.9163, Fib 61.8%", wrote Windsor Brokers analyst Slobodan Drvenica.
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