FXstreet.com (Barcelona) - The USD/CHF had risen to as high as 0.9362 during the European morning, but lost it all on news that Greece is being given two more years to meet the Troika memorandum and reports of a positive Draghi meeting in Berlin, convincing the Bundestag of the importance of the OMT program and that concerns of inflation are unfounded.
The pair fell to 0.9321 session low and bounced to 0.9330, flat on the day, after the release of the US new home sales in September, beating expectations.
“This is starting to look exposed (0.9330) and a break above here would see the market tackle key resistance, which remains 0.9438, the October high”, wrote Commerzbank analyst Karen Jones, expecting 0.9454 (55-day MA) to serve as stronger resistance. “The divergence of the daily RSI suggests that the market has lost downside momentum for now”, Jones added.
The pair fell to 0.9321 session low and bounced to 0.9330, flat on the day, after the release of the US new home sales in September, beating expectations.
“This is starting to look exposed (0.9330) and a break above here would see the market tackle key resistance, which remains 0.9438, the October high”, wrote Commerzbank analyst Karen Jones, expecting 0.9454 (55-day MA) to serve as stronger resistance. “The divergence of the daily RSI suggests that the market has lost downside momentum for now”, Jones added.
