26 Jul 2013
USD/CHF extending losses
FXstreet.com (Barcelona) - USD/CHF continues to move to the downside and extends losses, so far, towards the 78.6% retracement.
The theme of the markets is the dollar due to a WSJ Hilsenrath article that suggested the Fed will stick to a dovish script next week, possibly lowering the unemployment threshold for raising rates to below 6.5%. This was followed by news that a number of US Senate Democrats have circulated a letter in support of Janet Yellen, a noted dove, to replace Fed Chairman Bernanke when his term ends early next year.
USD/CHF eyes the 78.6% retracement
USD/CHF is lower, feeling the pinch and looking to the 0.9269/78.6% retracement. Any upside will be looking for the 55-day ma at 0.9468 which could relieve the and a continuation would sight 0.9568 March high. Support come sin a at 0.9269, the 78.6% retracement before 0.9130, the June low.
The theme of the markets is the dollar due to a WSJ Hilsenrath article that suggested the Fed will stick to a dovish script next week, possibly lowering the unemployment threshold for raising rates to below 6.5%. This was followed by news that a number of US Senate Democrats have circulated a letter in support of Janet Yellen, a noted dove, to replace Fed Chairman Bernanke when his term ends early next year.
USD/CHF eyes the 78.6% retracement
USD/CHF is lower, feeling the pinch and looking to the 0.9269/78.6% retracement. Any upside will be looking for the 55-day ma at 0.9468 which could relieve the and a continuation would sight 0.9568 March high. Support come sin a at 0.9269, the 78.6% retracement before 0.9130, the June low.