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USD/CHF at 0.9620 trading steady post US open

FXstreet.com (London) - The pair has lost 240 pips on the day since the Asian session, being held off at 0.9600 the figure.

The business climate in Germany printed an IFO figure of 105.7 against expectation of 104.5, which may have exuberated the sell off in the pair, triggering stops, in what is a very disorderly market at the moment.

USD/CHF continues to struggle in a ‘risk off’ environment, with hourly indicators pointing to the downside while long term readings are still in favour of the bulls. Support comes in at 0.9570 below the 0.9600 until 0.9540 March / April highs.

American equity markets cap off two-day weakness

The US stock market again opened lower Friday, concluding a late week weakness across global equities. In the United States, Durable Goods Orders (April) grew +3.3%, against projections of just +1.5%, and compared with -6.9% previously. In addition, Durable Goods Orders ex Transportation (April) were reported at +1.3%, against expectations of +0.5%.
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Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective and expects spot to be bullish for the week ahead.
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