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15 Aug 2013
USD/CHF supported in the 0.9300 handle
FXstreet.com (Barcelona) - USD/CHF has fallen from the 0.9360 descending zone and spiked through 0.9340 supporting area.
USD/CHF had reached a high of 0.978 in London’s markets yesterday but NA saw the pair capped there and took it into Asia on the offer. The pair has found some stability just sub of 0.9320 and has drifted higher to 0.9330 in London again. Sebastien Galy at Societe Generale suggests USD/CHF is still a play of tapering fears and said “While normalization and yield seeking may be the sign of summer months, considerable fears in rates options suggest that FX may be complacent. Eventually as was the case with USD/CHF 6M ATM vols, we will re-price FX vols higher as tapering fears send further waves through the market. The next two weeks ahead of NFP should offer plenty to position for this re-pricing”. today, attention will turn to US CPI.
USD/CHF consolidating
USD/CHF is still in positive territory but requires a close above 0.9390 and the August highs. The 20 dma 0.9303, 50 dma 0.9365, 200 dma 0.9354. RSI (9) reads 55.24. Supports are ascending from 0.9246, 0.9256, 0.9285 and 0.9297. Spot is currently 0.9325 while resistances are 0.9358, 0.9378, 0.9395 and 0.9405.
USD/CHF had reached a high of 0.978 in London’s markets yesterday but NA saw the pair capped there and took it into Asia on the offer. The pair has found some stability just sub of 0.9320 and has drifted higher to 0.9330 in London again. Sebastien Galy at Societe Generale suggests USD/CHF is still a play of tapering fears and said “While normalization and yield seeking may be the sign of summer months, considerable fears in rates options suggest that FX may be complacent. Eventually as was the case with USD/CHF 6M ATM vols, we will re-price FX vols higher as tapering fears send further waves through the market. The next two weeks ahead of NFP should offer plenty to position for this re-pricing”. today, attention will turn to US CPI.
USD/CHF consolidating
USD/CHF is still in positive territory but requires a close above 0.9390 and the August highs. The 20 dma 0.9303, 50 dma 0.9365, 200 dma 0.9354. RSI (9) reads 55.24. Supports are ascending from 0.9246, 0.9256, 0.9285 and 0.9297. Spot is currently 0.9325 while resistances are 0.9358, 0.9378, 0.9395 and 0.9405.