OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF strolling since last Thursday

Since last Friday that the USD/CHF has been drawing trading waves as it moves back and forth from just below 0.9300 but always finding itself capped around 0.9325. Today was no different and after reaching as high as 0.9318, the market pulled to the lower band of the range. However, at the moment of writing, the USD/CHF is attempting at extending the downside.

Italian Parliamentary elections will be the major focus of the day, with voting ending at 14:00 GMT and first polls expected one hour later. Investors will be looking for win of PD + Monti (+158 seats) and hoping for the least support for the Five Star Movement that could harden a working coalition.

“While this (0.9319) may hold the initial test, we would expect dips lower to now be relatively tepid, we have a near term support line at 0.9191 and while above here we remain bid”, wrote Commerzbank analyst Karen Jones, pointing to key resistance and short term target remains the 0.9390 December high.

Forex: USD/JPY holding BoJ based gains above 94.00

The USD/JPY surged from 93.36 to 94.50 right as the FX market opened for the week. Since then, the chart has been watching a sideways pair being traded throughout the Asian session, and now European morning. For now, the cross has been able to limit retracements above 94.00.
Read more Previous

Forex: AUD/USD consolidates losses below 1.0300

The Aussie dollar is recovering ground lost, after the softer-than-expected Chinese data from the flash manufacturing PMI in February dragged the cross to session lows around 1.0260...
Read more Next
Start livechat