Our best spreads and conditions
Learn more
Forex News
Back
May 24, 2013
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.
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.