13 Nov 2013
USD/CHF pulling back & hovering just above 1st Fibonacci support at 0.9163
FXstreet.com (Barcelona) - With very limited data flow to influence the USD/CHF cross Wednesday, traders will be relying primarily on technical forces to determine direction.
USD/CHF traders to key technicals with dearth of data out of Switzerland and the US
USD/CHF traders will be watching US mortgage applications data as well as the auction of the benchmark 10-Year Treasury Note Wednesday. Past that, traders will be gearing up to get to know Janet Yellen at her confirmation hearings Thursday – perhaps the biggest event of the week.
Technical outlook for USD/CHF
Technicians say the USD/CHF is in pullback mode after the recent rally off of recent lows. The pullback targets are generated by Fibonacci retracements at 0.9164 and 0.9111. Resistance comes in at the recent peak at 0.9249 with the 9/13 close at 0.9295 backing that up.
USD/CHF traders to key technicals with dearth of data out of Switzerland and the US
USD/CHF traders will be watching US mortgage applications data as well as the auction of the benchmark 10-Year Treasury Note Wednesday. Past that, traders will be gearing up to get to know Janet Yellen at her confirmation hearings Thursday – perhaps the biggest event of the week.
Technical outlook for USD/CHF
Technicians say the USD/CHF is in pullback mode after the recent rally off of recent lows. The pullback targets are generated by Fibonacci retracements at 0.9164 and 0.9111. Resistance comes in at the recent peak at 0.9249 with the 9/13 close at 0.9295 backing that up.