Forex: USD/CHF trading at 0.9927 after rumors roil pair
Forex pairs in this Article »
USD/CHF
FXstreet.com (Barcelona) - After peaking earlier at 0.9965 (daily max) during the morning of European trading, the pair has shifted 180 degrees and literally collapsed in moments on rumors of an ESM banking license.
In the Asian session, the greenback has simply had its way with the Swiss Franc, driven by deteroirating situation of Spain, in a context of rising rates and signs of contagion to Italy. The day before the decline was accelerated after rumors that Spain would ask to pursue a sovereign bailout. Ascentuating the dismal news, unconfirmed sources have said that Greece would be far from achieving the fiscal targets, adding even more selling pressure to the European bloc.
Prior to the release of economic data in Germany, the USDCHF is falling precipitously at a rate of -0.30%, trading in the region of 0.9927. According to the technical analyst team at Mataf.net, the pair's decline will be buffered by supports located at 0.9911, 0.9863, and finally 0.9833. Conversely, a return to the green, coupled with a prolonged ascension would point to resistances at 0.9989, 1.0019, and finally 1.0067.
In the Asian session, the greenback has simply had its way with the Swiss Franc, driven by deteroirating situation of Spain, in a context of rising rates and signs of contagion to Italy. The day before the decline was accelerated after rumors that Spain would ask to pursue a sovereign bailout. Ascentuating the dismal news, unconfirmed sources have said that Greece would be far from achieving the fiscal targets, adding even more selling pressure to the European bloc.
Prior to the release of economic data in Germany, the USDCHF is falling precipitously at a rate of -0.30%, trading in the region of 0.9927. According to the technical analyst team at Mataf.net, the pair's decline will be buffered by supports located at 0.9911, 0.9863, and finally 0.9833. Conversely, a return to the green, coupled with a prolonged ascension would point to resistances at 0.9989, 1.0019, and finally 1.0067.
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