USD/CHF: Dollar Sold As Durables Plummet 8.3%

Durable goods data might be seen as a "highly volatile index" but even a fall of 8.3% cannot be overlooked and the Dollar has been sold in the wake of the data. The October fall has wiped out the initial September rise (8.3%) but a small revision higher (to 8.7%) means that the economy is still net up, even if only slightly. Propelled by big ticket falls the US unit has been forced back close to the early European low at 1.2033 and should further sellers emerge then 1.2020 support and 1.2000 option barriers will come into sight.