OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF still capped by resistance at 0.9340

FXstreet.com (Barcelona) - The USD/CHF keeps finding its high at 0.9340 since April 10, and after a fall to test the 0.9200 ground (low at 0.9206) on the 16th and 17th, the market restored the price but remains stuck below such resistance.

Just ahead of the release of the SNB Monthly Statistical Bulletin by Switzerland, the USD/CHF was capped at 0.9338 high and eased back to 0.9330 area, where it stands at the moment.

“The USD/CHF despite several attempts last week the market continue to struggle at the 55 day moving average at 0.9355. This needs to be overcome in order to negate a sell off to 0.9140, the 78.6% retracement of the move up from February”, wrote Commerzbank analyst Karen Jones.

Forex: USD/JPY finding its way to 100.00 after G20

As the G20 and IMF didn’t disapprove the BoJ monetary policy decisions announced in April, investors felt safe to keep selling the Yen. The USD/JPY reached as high as 99.89 during the Asian session, but the psychological level at 100.00 is a powerful resistance price which still makes the market nervous. The pair is currently at 99.75 (+0.23%) as it finds its way to the upside.
Read more Previous

Forex Flash: EUR/USD rebound from 1.3000 Is corrective – Commerzbank

Commerzbank analysts see the small rebound from 1.3000 as corrective and continue to view the recent failure ahead of the 1.3225/50% retracement as an interim peak. The support at 1.3000/1.2995 guards the 200 day ma at 1.2934 and the 1.2740 recent low. “Key support remains 1.2679/61, this is the 61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low. Above 1.3225 will indicate a deeper retracement to 1.3340 and possibly 1.3503 (not favored)”, wrote analyst Karen Jones.
Read more Next
Start livechat