14 Nov 2013
USD/CHF continues expected pullback – with extra “oomph” from Fed’s dovish comments
FXstreet.com (Barcelona) - The USD/CHF continued the pullback that started last Thursday just as technicians expected. But the dovish commentary out of Ben Bernanke and Janet Yellen Wednesday just poured gasoline on the fire.
USD/CHF traders to keep eyeing Yellen / Bernanke talk in addition to US data points
USD/CHF traders will be reacting to the additional comments scheduled to be made by Janet Yellen in addition to the “regular” flow of data points including Swiss Producer and Import Prices as well as weekly jobless claims, non-farm productivity and trade balance data out of the US.
Technical outlook for USD/CHF
Technicians say the USD/CHF is in pullback mode after the recent rally off of recent lows. The pullback target generated by Fibonacci retracement is 0.9111. Resistance comes in at Wednesday’s peak at 0.9200 and is backed up by last Thursday’s peak at 0.9249 with the 9/13 close at 0.9295 backing that up.
USD/CHF traders to keep eyeing Yellen / Bernanke talk in addition to US data points
USD/CHF traders will be reacting to the additional comments scheduled to be made by Janet Yellen in addition to the “regular” flow of data points including Swiss Producer and Import Prices as well as weekly jobless claims, non-farm productivity and trade balance data out of the US.
Technical outlook for USD/CHF
Technicians say the USD/CHF is in pullback mode after the recent rally off of recent lows. The pullback target generated by Fibonacci retracement is 0.9111. Resistance comes in at Wednesday’s peak at 0.9200 and is backed up by last Thursday’s peak at 0.9249 with the 9/13 close at 0.9295 backing that up.