OctaFX | OctaFX Forex Broker
Open trading account

USD/CHF – broke next resistance with high 0.9761

FXstreet.com (London) - The pair has been leading the market and has gapped out on the charts this afternoon to break the 0.9700 level on a broad based dollar rally.

The Swissie wasn’t settling for just a 100-pip move on the day and business was being done through the 0.9745 resistances closing an hourly stick with a high of 0.9761. At time of writing, this pair has stepped down a peg on profit taking before the London close to a slight 15 pips above the figure and now trading at 0.9715 again.

The first suggested levels to be tested are the 78.6% correction at 0.9770. A close above the previous resistance levels and above the pivot on the downside brings the next target into play coming as 0.9835. However, the market may wish to collect some more profits in NY and open next week for another go below the figure. Support to the downside comes in with previous resistance zones with a 0.9645 pivot on the hourly chart.

Flash: European market outlook suggests uneven performance – Goldman Sachs

In light of recent European rates and sectoral performance, “We downgrade food and beverages to an underweight (from neutral) and personal and household goods to a neutral.”
Read more Previous

Flash: Full steam ahead with FX majors – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.
Read more Next
Start livechat