FXstreet.com (Barcelona) - USD/CHF has fallen 86 pips from its overnight high of 0.9635 to print an afternoon low of 0.9549 shortly after the US open.
Currently trading at 0.9560, price looks to have found support at 0.9555 after poor US Consumer Confidence figures surprised investors and heralded a bout of USD weakening across markets. Richmond Fed Manufacturing Data beat analyst expectations but remained in negative territory but focus will unequivocally fall on Fed Chairman Bernanke this Friday at the Jackson’s Hole Symposium. Last week’s low of 0.9540, which is also the low since July, is in sight if price is able to sustain and hold a break of the 0.9560 support level highlighted by the analysts at Ace Traders.
Elsewhere, US and European Equities look to sustain their move off lows as we lead up to the European close and commodities have painted a broad picture today.
Currently trading at 0.9560, price looks to have found support at 0.9555 after poor US Consumer Confidence figures surprised investors and heralded a bout of USD weakening across markets. Richmond Fed Manufacturing Data beat analyst expectations but remained in negative territory but focus will unequivocally fall on Fed Chairman Bernanke this Friday at the Jackson’s Hole Symposium. Last week’s low of 0.9540, which is also the low since July, is in sight if price is able to sustain and hold a break of the 0.9560 support level highlighted by the analysts at Ace Traders.
Elsewhere, US and European Equities look to sustain their move off lows as we lead up to the European close and commodities have painted a broad picture today.
