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Forex: USD/CHF moves off highs

FXstreet.com (Córdoba) - After reaching a daily high of 0.9379 underpinned by broad dollar strength, USD/CHF turned lower and retraced gains in a quiet Monday session.

However, the setback of the Swissy versus the dollar was contained by the 20-hour SMA around 0.9360, confining the cross to a consolidation phase. At time of writing, USD/CHF is trading around 0.9370, still up 0.2% on the day.

In terms of technical levels, on the upside next resistances are seen at 0.9380 (daily high) and 0.9400 (high May 3) followed by 0.9430 (high Apr 29). On the other hand, supports could be found at 0.9300 (psychological level) and 0.9265 (low May 2).

Forex: EUR/USD sideways ahead as of the US bell.

The EUR/USD hasn't shown much activity, although has lost some ground while London is out and about on this bank holiday.
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Forex: USD/JPY aims 99.70/100.00 and then 101.27/67 – Commerzbank

The USD/JPY remains sidelined above the 96.99 late April low, but dips lower should find support at 96.71, the March high, and at 95.67, the mid-April low, while key support remains trend and cloud support at 95.40/94.13. “We look for this to hold the downside and provoke recovery, if reached at all that is”, wrote Commerzbank analyst Axel Rudolph. Provided this holds the downside, the USD/JPY targets the 99.70/100.00 resistance area (recent high, Fibonacci retracement and psychological resistance): “This resistance zone is being targeted at present but is likely to cap once again, before eventually being breached. Above here will see an extension to 101.27/67 (the 1999 and 2005 lows). This resistance area is expected to hold the initial test”, he added.
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