OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF flat above 0.9650 awaits US data

FXstreet.com (Barcelona) - USD/CHF is last at 0.9654, unchanged for the Asia-Pacific, off recent session highs at 0.9670. The pair is flat for last 8 hours, inside a tight 28 pip range, with lows at 0.8542, printed at the Tokyo open, before rebounding from there to mentioned session highs.

According to FXStreet.com analyst Chris Moyer, recent daily chart candle pattern “looks like a shooting star or almost a gravestone doji,” Chris says, which he thinks “means consolidation not a major decline,” Mr Moyer suggests. USD/CHF is up +0.79% for the week so far, and +5.42% year to date, ahead of a busy late London session with plenty of data coming out of the US at 12:30 GMT, including CPI and unemployment figures.

Immediate support to the downside for USD/CHF lies at mentioned recent session/yesterday's lows 0.9656, followed by Friday's highs at 0.9629, and Monday's highs at 0.9596. To the upside, closest resistance shows at recent session/Tuesday's highs 0.9670/76, followed by July 27 2012 lows at 0.9691, and yesterday's fresh 9-month highs at 0.9750.

Forex: EUR/AUD set for consolidation before next leg up?

The EUR/AUD finished the session down 40 pips at 1.3023. Some analysts believe recent weakness in the Australia Wage Index data may be a sign of further RBA Cuts to come. This would obviously be a positive factor for the pair going forward and may be worth monitoring. Furthermore, market participants may want to keep an eye on the upcoming European CPI print which will be due out at 9:00GMT.
Read more Next
Start livechat