OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF tests resistance at 0.9450

FXstreet.com (Barcelona) - The USD/CHF remains trapped by resistance at 0.9450 area after having rallied on Monday opening from just below 0.9400 to 0.9450. The area at 0.9425 has been serving as support against further retracement of gains and the pair did spike to 0.9486 high in mid-European morning.

The March housing market index by NAHB eased from 46 to 44, contradicting the consensus for a rise to 47.
The EMU trade surplus eased from €10.3B to €9.0B in January (consensus of €3.4B), with non-seasonal data becoming deficit from €10.8B to €-3.9B, with consensus at €-3.5B.

The economic calendar showed an Italian global trade deficit in January, at €-1.619B, instead of the €2.110B surplus expected following December's €2.105B. Trade within the EU improved from €-1.212B to €0.663B.

"Monitor the support implied by the rising trendline (0.9379). A break of this support would call for a deeper correction", wrote MIG Bank analyst Bijoy Kar, pointing to resistances at 0.9478 (intraday high) and 0.9567 (14/03/2013 high).

Forex Flash: Cyprus reaction over exaggerated - BBH

Brown Brothers Harriman analysts believe that the immediate reaction to the developments in Cyprus during Asia trading time was exaggerated and the market spent the Tokyo afternoon and the European morning retracing the initial moves.
Read more Previous

Forex Flash: UBS revises down EUR/USD forecast to 1.3000 in April and 1.28 in June

The UBS analyst team has cut its EUR/USD forecast for the one-month and tree-month windows and after expecting 1.37 in 1-month and 1.30 in 3-month, the bank is expecting now the pair going to 1.3000 in 1-M and 1.28 in 3-M windows.
Read more Next
Start livechat