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USD/CHF is trading above the pivot on the London open

FXstreet.com (London) - USD/CHF is trading above the pivot on the London open

USD/CHF in tighter ranges

USD/CHF found a tighter range to trade in over the course of Thursday an Friday during a session of mixed US data and after printing a monthly low. The data came without any surprises either way and the pair was reluctant to break off in one particular path. The week ahead however comes with the FOMC which could give us some direction.

USD/CHF rallies expected

Karen Jones, Senior Analysts at Commerzbank said USD/CHF made a four month low at 0.9130 on Thursday but failed again to close below the Fibonacci support at 0 .9197. “We suspect that a near term rebound will be seen towards 0.9297 then 0.9400.” She said that rallies will need to regain 0.9484 (50% Fibonacci retracement) to alleviate immediate downside pressure. She notes that further resistance can be seen around the 0.9247 May low and then along the 200 day moving average at 0.9348.“Below 0.9130 will put the 2013 low at 0.9023 back on the map, this is key support we look for it to hold”.

USD/JPY testing 95.00

RSI is getting to very low levels, suggesting it could be reaching a short-term low.
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Flash: What does the EUR/USD have to offer? – UBS and Commerzbank

The EUR/USD is extending Friday’s decline, although the pair seems quite well supported in the vicinity of 1.3320 so far. A congestion pattern ...
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