Filed Under:
Forex pairs in this Article » USD/CHF (London) - USD/CHF has reached a high of 0.9594 in London, and is now continuing to attempt 0.9600 despite higher Swiss CPI.

USD/CHF is currently bid again after an initial drop of 10 pps on the release of Swiss CPI. The numbers YoY June came in -0.1% vrs -0.4% expected and -0.5% previous while month on month they printed 0.1% vrs -0.1% expected and 0.1% previous. Today, among the risks today are US markets returning from 4th July holidays and digesting the BoE and ECB news. Then, attention will be paid to the NFP’s that comes in the afternoon. The Feds forward guidance centers around the labour market developments at present and the market will be looking for a strong report to keep the expectation of first tapering of the Feds QE programme alive.

USD/CHF eroding the .9568/61.8% retracement

USD/CHF up move had reached the 0.9568 61.8% Fibonacci retracement and March high, and analyst Karen Jones, at Commerzbank, would allow for some near term consolidation at this key juncture, and they note the 13 count on the 240 minute chart. She said the move higher seen yesterday looks directional and while trading above the 55 day ma at 0.9454 her team will assume that the market remains immediately bid for a move en route to the 0.9840 high. Below 0.9454 would signal weakness to 0.9351/35, the 200 day ma and 6 week support line.
comments powered by Disqus