FXStreet (Córdoba) – Greenback is about to end the week trading around 0.9400 against the Swiss franc, on its way to the strongest weekly close since July 2013. USD/CHF bottomed during the Asian session at 0.9340 and then moved with an upside bias the rest of the day.
During New York trading rose above 0.9400 but failed to rally on top of 0.9410 and pulled back. Price action activity in the currency market calm during the last hours and USD/CHF remained steady around 0.9400.
USD/CHF up despite SNB
The pair is rising for the fifth week in a row. On Thursday the Swiss franc strengthened after the Swiss National Bank left rates unchanged but the recovery was short lived. A strong US dollar across the board pushed USD/CHF back toward 2014 highs.
FXStreet (Guatemala) – USD/CAD is trading at 1.0965, up 0.29% on the day, having posted a daily high at 1.0982 and low at 1.0886.
USD/CAD has come back to challenge the bears intentions for lower grounds and meanwhile, analysts at TD Securities explained that they do not think there is that much holding the USD up in terms of technical support right now; “The 200-day MA holds less sway over the market, with spot having chopped around this point for the past month without much directional intent”. They added that short-term trend support at 1.0880 does not appear especially strong. “We rather think the key downside point on the daily chart is 1.0805/15 where May/June and August lows converge with retracement support. The daily chart suggests the downside is fairly open until the low 1.08 area”.
USD/CAD short term levels
With spot trading at 1.0966, we can see next resistance ahead at 1.0982, 1.0991 (Hourly 100 SMA), 1.0998 (Daily Classic R1), 1.1004 (Hourly 200 SMA) and 1.1024 (Weekly Classic PP). Support below can be found at 1.0962 (Daily Classic PP), 1.0955 (Daily 20 SMA), 1.0952 (Hourly 20 EMA), 1.0948 (Weekly Classic S1) and
For more information, read our latest forex news.
FXstreet.com: Latest News
http://goo.gl/bRKoqt – Click Link Now! eToro Review. Your Investment Network. Welcome to the world’s largest investment network. As the leader in social trad…
Video Rating: 4 / 5