10 Jun 2013
USD/CHF trading at the 0.9400 barrier
The USD/CHF foreign exchange has been under tremendous pressure since last week, which looked to continue to weigh and sequester any hopes of a quick recovery.
All is quiet and tranquil on the data front today, with a definitive lack of catalysts coming from economic data in the Eurozone and Switzerland. However, tomorrow the pair should receive a jolt in the aftermath of the SECO Economic forecasts in Switzerland at 5:45 GMT.
USD/CHF continues to face bearish headwinds
Presently, the pair is trading at 0.9397/03, advancing at a rate of +0.25% above its opening Monday during US trading. “The USD/CHF pair is consolidating and unwinding the overextended downside conditions of this month. Resistance should hold at 0.9460, while support is at 0.9207, suggesting a bearish intraday outlook.” notes Gareth Berry, a Research Analyst at UBS.
All is quiet and tranquil on the data front today, with a definitive lack of catalysts coming from economic data in the Eurozone and Switzerland. However, tomorrow the pair should receive a jolt in the aftermath of the SECO Economic forecasts in Switzerland at 5:45 GMT.
USD/CHF continues to face bearish headwinds
Presently, the pair is trading at 0.9397/03, advancing at a rate of +0.25% above its opening Monday during US trading. “The USD/CHF pair is consolidating and unwinding the overextended downside conditions of this month. Resistance should hold at 0.9460, while support is at 0.9207, suggesting a bearish intraday outlook.” notes Gareth Berry, a Research Analyst at UBS.