Swiss data has aided the Franc intraday, as domestic Trade and Retail Sales releases proved it is not all doom & gloom yet for the Alpine economy. The nights might be drawing in but that is no excuse to pull the shutters down on the CHF just yet and USD/CHF was sold from 1.2703 to 1.2641 in Europe.
Broader Dollar weakness, albeit more a period of stalling that was seized upon, has added to the ability of the Franc to hold onto the gains and bears are now eyeing a break below 1.2640 support. Should any such break be seen then the 1.2600 will fast approach as further stops are triggered with technicians looking to the Fibo & 200-Day moving average line around 1.2580.
Into North American trading and sellers in USD/CHF are camped in the 1.2660/65 area to cap any initial rebounds ahead of the early US weekly data (due at 12:30 GMT). Further into the session and the 14:00 GMT release of September Leading Indicators is eyed while the 13:45 GMT Poole comments could also add insight into the current FOMC mentality.
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