Key PointsThe Euro moved higher and settled above the 1.4100 resistance against the Aussie dollar. There is a nice connecting bullish trend line with support at 1.4100 formed on the hourly chart of EURAUD. Today in the Euro Zone, the German GfK Consumer Confidence for March 2017 was released. The result was below the forecast, as the German GfK Consumer Confidence decline to 9.8 in March 2017. EURAUD Technical Analysis
The Euro after a decline towards 1.3880 against the Aussie dollar formed a base and moved higher. During the upside, the EURAUD pair broke the 1.4000 handle, and then managed to trade above the 1.4100 resistance area.
As the moment, the pair [...]
Key PointsThe British Pound recovered well from the 1.2298 low against the Swiss Franc. The GBPCHF pair faces a monster resistance near 1.2350, and two bearish trend lines formed on the hourly chart. Today in Switzerland, the Unemployment Rate for Feb 2017 was released by the State Secretariat for Economic Affairs (SECO). The result was around the forecast, as the Unemployment Rate remained unchanged from 3.3% in Feb 2017. GBPCHF Technical Analysis
The British Pound was in a consistent downtrend against the Swiss Franc, as it traded as low as 1.2298 from where it recovered. The GBPCHF pair moved above the 38.2% Fib retracement level of the last decline from 1.2405 high to [...]
Key PointsThe US Dollar recently traded higher but found resistance near 1.0120 against the Swiss Franc. There is an important bearish trend line with resistance at 1.0120 on the hourly chart of USDCHF. Today in Switzerland, the Gross Domestic Product for Q4 2016 was released by the Swiss Statistics. The result was below the market expectation, as there was a rise of 0.1%, less than the forecast of 0.4%. USDCHF Technical Analysis
The US Dollar remained in an uptrend against the Swiss Franc, and traded higher from the 1.0065 support and the 21 hourly simple moving average. The USDCHF pair is again testing highs, but struggling to break the 1.0120 resistance.