OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF above 0.9500

FXstreet.com (Barcelona) - After an early rise to the 0.9500 psychological level during the Asian session, the USD/CHF stayed quite still for around some time but the pair has just moved higher, to 0.9514, ahead of the European session. Those gains are currently being retraced.

The economic calendar will be pretty clean today, with the EMU consumer price index making the rounds at 09:00 GMT. The preliminary release for March is expected to see an easing figure from 1.8% to 1.7%.

“USD/CHF is consolidating above its 200 day ma at 0.9616 and the uptrend at 0.9418 and as a consequence maintains an upside bias. Key short term support is the 0.9351 low charted last week, while above here we will maintain an upside bias”, wrote Commerzbank analyst Karen Jones.

Forex: AUD/USD upside capped around 1.0470

The Aussie dollar failed to follow through 1.0470 overnight, now retreating to the current area of 1.0455/60 ahead of the opening bell in London...
Read more Previous

Forex Flash: EUR/USD immediate bias negative on course for 1.2679/61 - Commerzbank

The EUR/USD maintains an immediate negative bias for having rallied towards and again been rejected by its 200 day MA, at 1.2890. ”It remains on course for 1.2679/61, this is the 61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low”, wrote analyst Karen Jones, expecting this to hold the initial test and allow for some profit taking here. “The market remains directly offered intraday below the 1.2931 resistance line. Longer term we target the 78.6% Fibonacci retracement at 1.2400 and then 1.2042, the 2012 low”, Jones added, pointing to 1.2931 resistance ahead of last week’s high at 1.3050 which in turn guards 1.3100/80 (“while capped here a negative bias is entrenched”).
Read more Next
Start livechat