28 Jun 2013
USD/CHF printing lower
FXstreet.com (London) - USD/CHF had fallen from 0.9440 to 0.9414, creating a gap on the charts.
With month end demand for dollars subsiding, the pair has lost grip of the highs, and the move has been reportedly been due to end of month flows parking into the Swissy. Swiss names selling USDCHF.
USD/CHF remains in positive territory
Coming up we have US data and markets are listening to the Fed spokesmen for sentiment for the economy. The pair is still holding above support ahead of the numbers. Next week will also be pretty busy and traders might be reluctant to do too much until the new month begins. Perhaps his means for next week, the Elliott wave count suggests that the pair could reach 0.9535 on the upside if it can continue to stay in positive territory and actually breach 0.9490. Heavier resistance could come in at the March highs at 0.9560/70 territories. Support to the downside is 0.9420/10 and 0.9380 before major support levels at 0.9271, before 0.924 and 0.9180.
With month end demand for dollars subsiding, the pair has lost grip of the highs, and the move has been reportedly been due to end of month flows parking into the Swissy. Swiss names selling USDCHF.
USD/CHF remains in positive territory
Coming up we have US data and markets are listening to the Fed spokesmen for sentiment for the economy. The pair is still holding above support ahead of the numbers. Next week will also be pretty busy and traders might be reluctant to do too much until the new month begins. Perhaps his means for next week, the Elliott wave count suggests that the pair could reach 0.9535 on the upside if it can continue to stay in positive territory and actually breach 0.9490. Heavier resistance could come in at the March highs at 0.9560/70 territories. Support to the downside is 0.9420/10 and 0.9380 before major support levels at 0.9271, before 0.924 and 0.9180.