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USD/CHF eyes 0.9700 pre US data

FXstreet.com (London) - USD/CHF eyes 0.9700 pre US data

The franc has lost some ground again to the dollar as traders get back from their lunch break saving their ‘apatite’ for 0.9700 perhaps pre Consumer Confidence?

The quote has been oscillating between 0.9683 and the handle 0.9700. The pair had been here in the earlier hours of the session before the franc brushed off the disappointing export numbers. The only data left for today is the all-important US consumer confidence data coming up in just a moment at 1500hrs BST.

Eyes will be closely on this for sentiment in the labour markets that is going to be the lead economic signs for a US recovery. 0.9750 comes as next target after the figure in a dollar positive environment. Key support is seen at 0.9570, after 0.9680 and the pivot zone 0.9625.

GBP/USD pre Consumer Confidence

The market expects a flat reading in the Richmond Fed and improvements in the Dallas Fed (from -15.6 to -10) and Conference Board Consumer Confidence (from 68.1 to 70.7).
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