USDCHF: 0.9347
US$Chf has had a choppy session and is ending the day a little lower, albeit without any major change in the outlook.
1 hour/4 hour indicators: Turning higher
Daily Indicators: Down
Weekly Indicators: Turning lower
Preferred Strategy: As before, the longer term charts look heavy, and if the support at 0.9288 does get taken out we could head quickly to the August 2015 low at 0.9257, below which there is a black hole until around 0.9150.
The shorter term charts though look a little more positive though, and on the topside, resistance will again be seen at 0.9380/90, a break of which could see the dollar carry on to the 26 Jan high 0.9430. Given the momentum of the 4 hour charts buying dips for the next 24 hours is preferred.
Resistance | Support | ||
0.9475 | Minor | 0.9325 | Minor |
0.9452 | (23.6% of 0.9977/0.9288) | 0.9310/03 | Session low/ 26 Jan low |
0.9430 | 26 Jan high | 0.9288 | 25 Jan low |
0.9392 | Session high | 0.9257 | Aug 2015 low |
0.9375 | Minor | 0.9210 | Minor |
Economic data highlights will include:
Trade Balance
All content on this website, www.fxcharts.com.au (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.