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25 Jun 2013
USD/CHF is higher on US data
FXstreet.com (London) - USD/CHF moved up on better than expected Durable Goods Orders.
Durable Goods Orders (May) came in at 3.6% vrs consensus 1.8% and previous 3.5% Durable Goods Orders ex Transportation (May) came in at 0.7% vrs consensus 0.1% and previous 1.5%. And coming up shortly we have the Redbook index (YoY) (Jun 16) and Redbook index (MoM) (Jun 16) at 12.45GMT. Then we have Housing Price Index (MoM) (May) 1300GMT. And finally we have both Consumer Confidence (Jun) and New Home Sales (MoM) (May) at 1400GMT
USD/CHF looking bullish
Karen Jones, analyst at Commerzbank said that USD/CHF has seen a rebound off the Fibonacci support at 0.9197. She suspects that we will see a move towards 0.9380 then 0.9455. For this to be regarded as more than a correction, she said rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. Further resistance can be seen around the 0.9247. She said May low and then along the 200 day moving average at 0.9345 and dips should find interim support at 0.9206/0.9176 ahead of 0.9130.
Durable Goods Orders (May) came in at 3.6% vrs consensus 1.8% and previous 3.5% Durable Goods Orders ex Transportation (May) came in at 0.7% vrs consensus 0.1% and previous 1.5%. And coming up shortly we have the Redbook index (YoY) (Jun 16) and Redbook index (MoM) (Jun 16) at 12.45GMT. Then we have Housing Price Index (MoM) (May) 1300GMT. And finally we have both Consumer Confidence (Jun) and New Home Sales (MoM) (May) at 1400GMT
USD/CHF looking bullish
Karen Jones, analyst at Commerzbank said that USD/CHF has seen a rebound off the Fibonacci support at 0.9197. She suspects that we will see a move towards 0.9380 then 0.9455. For this to be regarded as more than a correction, she said rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. Further resistance can be seen around the 0.9247. She said May low and then along the 200 day moving average at 0.9345 and dips should find interim support at 0.9206/0.9176 ahead of 0.9130.